If you happen to install IIS after Visual Studio 2005, you must first reregister IIS by running aspnet_regiis -i from the 2.0 version of the framework folder. Optionally, you might have to repair the dotnet framework.
:\wcu\dotNetFramework\dotnetfx.exe /t:c:\temp /c:"msiexec.exe/fvecms c:\temp\netfx.msi"
Even after this, you might still not be able to create an ASP.NET website within IIS. When you look in the Location pulldown, you'll see File System, FTP, but no HTTP. To fix this we looked into IIS to ensure that the ASP.NET tab of the default website was bound to ASP.NET 2.0 instead of 1.1.
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