I have a intranet SiteCore website set up on IIS 7 which randomly throws the following error message
HTTP Error 503.2 - Service Unavailable
The serverRun
Investigate references in the linked url to 'MaxConcurrentReqeustsPerCPU' which you may need to set by creating a new registry key, depending on your OS and framework.
http://blogs.msdn.com/b/tmarq/archive/2007/07/21/asp-net-thread-usage-on-iis-7-0-and-6-0.aspx
As already commented - check the actual concurrent request count using performance counters to determine which limit you're hitting i.e. it could be a limit of 5000 or maybe 12 (per cpu).
Edit: I realise this may look like I'm talking about a different setting entirely, but I believe there is overlap here.