Install DTS packages on development machine

I would like to install the components I need to develop a SSIS custom component. Is there an SDK or install option for just the visual studio components?

There is no seperate redistributable or SDK for SSIS. There is actually an SDK folder that gets installed, normally C:\Program Files\Microsoft SQL Server\90\SDK which has SSIS related assemblies for referencing, but I am not sure which install option gives you this. I suggest you run setup and select "Integration Services" and also "Workstation Components..."

A nice blog post about installing SSIS and some of the options-

Michael Entin's WebLog : Why do I get "product level is insufficient..." error when I run my SSIS package?
(http://blogs.msdn.com/michen/archive/2006/11/11/ssis-product-level-is-insufficient.aspx)