What is the best way to use SQL Server 2008 as a development database, but ensure that the database is compatible with SQL Server 2005?
Don't forget that there are also behavioral differences between the two versions, and something on 2008 may perform differently (and insufficiently) than 2005 all other things equal - this will obviously depend on a lot of factors about your data and application.
You're better off developing against the lowest common denominator and testing against the newer versions.