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If you're willing to go non-MS, Redmine is worth a look.
It's basically everything you could want in PM software, with issue tracking SCM integration, ability to handle multiple projects from the one install (Trac's biggest drawback is that it doesn't), integrated forum and wiki functionality, etc.
One of the better things about it is that the bits you don't want to use don't get in the way of the subset you do. If you don't care about forum/wiki functionality, you just don't use it, and if you see a need later, it's already available.
More info at http://www.redmine.org and there's a Bitnami stack for easy setup at http://bitnami.org/stack/redmine