Here is how I was able to setup Visual C++ Express Edition to compile a simple helloWorld plugin for Maya.

1.  Download and install VCEE here using their instructions:

http://msdn.microsoft.com/vstudio/express/visualc/download/

2. Find the MayaPluginWizard2.0.zip in your installation folder and extract the files, usually here:

C:\Program Files\Alias\Maya7.0\devkit\pluginwizard

3. Edit the MayaPlugInWizard.vsz file with a text editor.  Change the line that says:

Wizard=VsWizard.VsWizardEngine.7.1

to

Wizard=VsWizard.VsWizardEngine.8.0

4. Place the MayaPlugInWizard .ico and .vsz files into here:

C:\Program Files\Microsoft Visual Studio 8\VC\Express\VCProjects

5. Create a MayaPlugInWizard folder in the same directory and put the vsdir file there.

6. Copy the MayaPlugInWizard folder from the .zip file into here:

 C:\Program Files\Microsoft Visual Studio 8\VC\VCWizards

You may need to follow these instructions as well although I am not sure:

http://msdn.microsoft.com/vstudio/express/visualc/usingpsdk/

Ok, you should now be able to run the MayaPluginWizard when you run VCEE and create a New Project.  Cheers!