Questions #1 through #4 on the Joel Test in my opinion are all about the development tools being used and the support system in place for developers:
I don't think you really need obfuscation on .Net any more (see another response)
I wouldn't consider Vault, SVN is really the market leader at the moment (and free). Git is looking pretty promising but currently is command line only with a steep learning curve.
MSBuild beats NAnt for .Net 2 or 3.5
CC.Net is excellent.