If you are depolying a .Net application (anthing made in VS 2002 and newer) the Framework must be deployed.....

VS 2002 needs 1.0
VS 2003 needs 1.1
VS 2005 needs 2.0
VS 2008 can be 2.0,3.0 or 3.5
VS 2010 can be 2.0,3.0,3.5 or 4.0

But the framwork must be on the target computer to allow the app to run