"There is no Web named..." error

When setting up your web reference in Visual Studio 2008, you must enter http://server/sites/mysitecollection/mysubsite/_vti_bin/Lists.asmx?WSDL including the "WSDL" at the end! Or else, you will get this error in your inner exception, when attempting to access a list, using the GetList(listguidstring) method.