Compilation errors invisible when Code Analysis set on TFS2010

Question

I am getting my hands on TFS 2010, and I am starting with trying to set a continuous integration build up. For this purpose I am using the default build template (DefaultTemplate.xml) configured with Code Analysis set as Always.

Everything works fine... except when it does not. When there is an error in the build (or a test failure), the only error available in the TFS report is the following

Unable to read Code Analysis output report. Make sure that the directory is writable (default is the project output directory).

The original error is reported only when there is no code analysis. When no error, the code analysis reports are correctly output.

Any ideas?