I would like to have the ability to connect to TFS via sharepoint 2010 and extract specific details out of the tfs projects that would already exist. I have been doing a research and have come up with nothing other than the fact that tfs has a sharepoint portal.
Team Foundation Server provides reporting capabilities that can show various indicators of your development life cycle (ALM) - Creating Reports for Team Foundation Server 2010. You can also customize the reports - Creating, Customizing, and Managing Reports for Visual Studio ALM.
UPDATE: While there are integration points between TFS and SharePoint, I think what you are seeking would need programmatic access to the internals of TFS and Extending Team Foundation (via its object model).
Other examples that may be helpful in your case -