Can I configure a .NET application in a way (settings in Visual Studio) that it references a \"local\" assembly (not in GAC) instead of an assembly within the GAC, although
If you can change the version number of the local dll, you can use a dll version redirect using the oldVersion attribute. You can use a strong name for the local assembly: Please look this page: http://msdn.microsoft.com/en-us/library/7wd6ex19.aspx
Also you should consider that it is possible to modify the version number of a compiled assembly like it is described here: Change Assembly Version in a compiled .NET assembly