try this
RESOLUTION:
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1] Copy the built webpart.dll to c:\windows\assembly (GAC)
2] In the folder location where webpart VSE solution was created found setup.bat file in bin\Debug, and this is the file which VSE calls when deploying the solution and has instructions to run it. Ran the setup.bat from command prompt as “setup /uninstall” this ran ok, then ran setup /install this ran ok too. Modified the setup.bat file and add the line to remove the webpart.dll from the GAC and add the webpart.dll assembly to GAC as under:
http://geekswithblogs.net/naijacoder/archive/2008/04/22/121535.aspx
http://forums.asp.net/p/1015801/1365106.aspx