A small post to inform you that Microsoft released a standalone installer for the Team Foundation Server 2010 SP1 client Object Model API! You can found it on the Visual Studio Gallery here:
http://visualstudiogallery.msdn.microsoft.com/a37e19fb-3052-4fc9-bef7-4a4682069a75
Before this installer, if you wanted to develop an application that interacts with TFS you needed to install Team Explorer to have those few needed DLLs… this isn’t the cas anymore 
Of course licencing doesn’t change and your user will still need a TFS CAL.
A TFS 2012 version will be available with the RTM.
Carpe Diem.