TFS 2008 and Common Libraries

I have created a Team Project called "Common Library" that will host code used in numerous different Team Projects throughout TFS. For sake of argument, lets say we have 2 distinct Librarys under the "Common Library" Team Projects, MailProject and LoggingProject. Other projects throughout TFS will be using the binary representation of these projects via branching and not the actual source code.

What is the best way to set up the folder structure for this Team Project? Do I add the project to the "Common Library" and simply "include" the bin/release folder as part of the project?

I have seen some examples of people creating a seperate "Deploy" folder. I assume this is synonamous with the bin/release folder?