The latest redist of the .NET Compact Framework is available for devices running Windows Mobile 2003 and up. There's a long list of new features and bug fixes

"Service Pack 2 of the .Net Compact Framework V2.0 includes some new features in the Remote Performance Monitor aimed at finding memory leaks in the managed heap. These features allow you to take snapshots of the GC heap at any point in time and view the relationships between the live object instances in the heap. You can also compare multiple snapshots over time in order to spot allocation trends in your application as it executes."