(The entire process in question ran outside Visual Studio - it was a hellish mix of PowerShell, batch files, MSBuild, C++ tools and C# tools. Somebody had even implemented a getopt-type affair, using the batch commands, so the batch files all responded to /? and everything. May I never see its like again.)
I also use it to compile outside of VS, because 1) it's often quicker on large solutions and 2) it mirrors the CI build (sometimes VS is too smart and papers over issues).
That being said, the new stuff coming with ASP.NET 5.0 (vNext), where the build is a simplified JSON file is interesting
msbuild build.msbuild and I get full-rebuilds of 32-bit and 64-bit executables, tests run, and upon success, everything packaged up in an installer and ready for deployment.