I've just installed a fresh copy of VS 2005 on an XP Pro laptop. Right out of the gate I have an error trying to get to the Administrative page.
This is the error message in IE:
HTTP 401.3 - Access denied by ACL on resourceInternet Information Services.
To fix, I went over to IIS Properties, the Virtual Server site and over to the Directory Security tab.
I unchecked the Integrated Windows Authentication, and instead checked Basic Authentication, with the default domain as my laptop. This is merely for banging out prototype's occasionaly, and I do not run a web server 24/7, so that works out well for me.