Can i create the toolbox for netadvanatage 2007 v1 in vs2008?
Sure. You should be able to just create a new Tab in the toolbox and manually add the controls by right clicking on the toolbox and choosing the "Choose Items" option from the context menu.
Keep in mind that the first version of controls with full support for VS2008 will be 2008 Volume 1. This version will also include an updated toolbox utility that automatically puts the controls in the VS2008 toolbox.
Devin