Thanks to the guys over at 4guysfromrolla.com, I finally found some help with this question. In case other's are wondering how to do this in ASP.NET 2.0 as well... here's a possible solution.
Protected Sub Page_Load(ByVal sender As Object, ByVal e As System.EventArgs) Handles Me.Load
If Not Page.IsPostBack Then
Try
'Programmatically access the SqlDataSource - get back a DataView
Dim dv As DataView = CType(Me.SqlDataSourceContent.Select(DataSourceSelectArguments.Empty), DataView)
Dim strContentTest As String
Dim dr As DataRow
If dv.Table.Rows.Count > 0 Then
dr = dv.Table.Rows(0)
strContentTest = dr("Your_Field_Name_Here").ToString()
Me.Editor1.Text = strContentTest
End If
Catch ex As Exception
Response.Write(ex.ToString)
End Try