There are no restrictions. Feel free to use the VS2010 Express version to develop ASP.NET MVC. The only thing you cannot use the MS Test platform for unit tests is, and you need to go for something like NUnit, which is not necessarily a bad thing :-) Just maybe you will have a little less integration into the IDE with things like unit tests code coverage ... you have to use third-party tools.
There is only one thing that needs to be considered and which is of paramount importance before starting a large project: is the time that your developers spend on setting up third-party tools cheaper than paid versions of VS2010? In other words, how much are your developers? See paragraph 9 of the Joel test .
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