If you get this error when loading a Web Application project on Visual Studio 2005 running on Vista and IIS 7 -
"Unable to read the project file 'xxx.csproj'. The Web Application Project xxx is configured to use IIS. To access local IIS Web sites, you must install all of the following components:
Internet Information Services.
IIS 6 Metabase and IIS 6 Configuration Compatibility
ASP.Net
In addition, you must run Visual Studio in the context of an administrator account........"
Do the following -