As a part of the "My First Umbraco UserControl" guide, I created a Visual Studio 2010 Template to simplify the creation of Usercontrols.
NOTE: It only works in Visual Studio 2010.
If you don't have it, you can download one of the express editions.
The template includes all the necessary references to Umbraco dll's.
Upgraded assemblies to support Umbraco v220.127.116.11 and .NET 4.
Required references are now added with NuGet.