The debugger team has gotten many requests to debug ASP.NET applications as a non-admin. In Whidbey, the ASP.NET team did a good job solving this problem. Their solution is much nicer then mine. In the mean time, here is a way that you can get this scenario to work in the 7.1 IDE. I hope this helps. If it doesn't work for you, you can post a comment, but don't call PSS. This isn't supported.
The basic idea is to use the little web server from Web Matrix instead of IIS. The reason that non-admins can't debug IIS is that it runs as a different user. Debugging other user's processes is a privileged operation. Hence the restriction. Web Matrix solves this problem by running the web server as the local user. There are a few downsides to this -- bugs that are affected by the identity of the worker process will go away, and Web Matrix doesn't support everything that full IIS does. However, for simple web applications, this should be a good solution.
Note: This setup still uses a web project. This gives you the ability to easily test the application under IIS, and also gives you intelisense. If you don't want to run the application under IIS at all, then you could do this with far less effort, and improved security.
Anyway, here are the instructions to allow JoeUser (a non-administrator) to debug his ASP.NET application. First an administrator must setup the computer:
Debug as JoeUser:
Result:Your breakpoint hit!