Multiple ArcObjects SDK Versions

Is it possible to have multiple SDK versions on the same machine?

I have a development machine with Visual Studio 2010 & 2012 installed. I need to keep both for now so I can build some extensions that will support ArcGis 10. I would also like to set-up and start developing with VS 2012 when support is available.

So is this possible? And if it is, are the many gotchas?

Thanks,

Mike