I just installed SQL Server 2005 Standard, using our MSDN discs, onto Windows Server 2008 Standard deployment and it worked successfully after a few tries. However I took two tries to install SQL Server; the first time it installed the Configuration Tools and the second time it installed everything else. Regardless, here are a few tips to remember:
The first thing was the order for merging the MSDN discs (two separate discs that must be combined before installing). The trick is to rip disc 2 to a folder and then rip and replace the files with disc 1. If you use the wrong discs you get an error like "Try the installation again using a valid copy of the installation package 'sqlncli.msi'."
The second thing to remember is that when you install SQL Server 2005 onto Windows 2008, which isn't a problem in Windows 2003, you must use a complex password for the database password otherwise it fails.