@Richard Filoramo 
The server-side editing paradigm in VS Code is conceptually similar to Studio in that the files you edit are "virtual" and do not need to be exported to the file system. This mode supports Studio source control classes, so you can continue using them if you want. We have a documentation page that describes some useful features for migrating from Studio that describes where the Studio source control integration can be found in the VS Code UI.

@Mikko Taittonen 
The vscode-objectscript extension does provide New File commands for Interoperability classes. You can read the documentation here. The SOAP wizard can be accessed from the Server Actions menu. BPL and DTL classes can be edited textually. Support for the graphical editors will be added when they are rewritten using Angular. For a preview of how that would work, you can try out the new Angular Rule Editor in VS Code.

@David Hockenbroch 
We just improved the UI for creating a new server-side editing workspace folder. If you have no workspace open, you can follow the steps here to create a new one. If you do, you can add a new folder to you workspace by right-clicking in the file explorer and selecting "Add Server Namespace to Workspace..". That command will follow steps 4 and on. To see CSP files, select "Web Application Files" in the menu from step 8. To see basic files, select "code files in <NS>", then select "Filter", then make sure your custom filter contains the "*.bas" pattern. It can include other file types as well.