The documentation you have found already should be close enough - the hive folder is named "SharePointRoot" instead of "12", but aside from that it's all the same for basic usage.
Developing for SharePoint without having SharePoint on the dev box is going to be fairly painful whatever method you use though. I have a PowerShell script that deploys a WSP on another server so I can use the same development environment for 2007 and 2010 - it works but is a lot slower than the local copy to GAC or hive when making small changes. The error you are getting with VS2008 can probably be fixed by running visual studio as administrator.