TFS Basic is the all-in-one development system that combines Version Control, Bug Tracking and Build Automation.
The beauty of it is the new install experience. There is a Next, Next, Next wizard that validates and configures everything for you. Fully functional instance of TFS Basic can be installed and configured for about 20min, if you have .NET Framework 4 and SQL Server 2008 installed already.
I am happy to see that Microsoft provides single developer and small team shops with a high quality product like TFS in smaller packaging.