I have an IIS7.5 web-site, on Windows Server 2008, with an ASP.NET MVC2 web-site deployed to it. The website was built in Visual Studio 2008, targeting .NET 3.5, and IIS 5.1
Glad that fixed your problem. Others researching this issue should take note of the extensionless URL hotfix: http://support.microsoft.com/kb/980368