Hi there,
I don't have the book so I can't tell for sure, but I think you can follow along with most of it. Many features from 2005 are still present in 2008 so with a bit of adventurous discovery every now and then I think you should be able to follow along just fine.
Alternatively, you can take a look at my Beginning ASP.NET 3.5 which targets Visual Web Developer 2008:
http://www.wrox.com/WileyCDA/WroxTit...47018759X.html
Cheers,
Imar