Dave Northey who is a ITPRO Evangelist from Ireland had posted a really interesting 6 minute screen cast on EDGE which shows you how you can tune your PHP applications on Windows Server 2008 and IIS7.

This goes into the how to configure FASTCGI ( in place of standard CGI ) and then uses output caching which is a great feature of IIS7 to go from 2 pages per second (standard CGI) to 2000+ ( with FastCGI and Output caching ).

Check out this quick screen cast http://edge.technet.com/Media/393/