I\'m running Windows 7 Ultimate (64 bit) using Visual Studio 2010 RC. I recently decided to have VS run/debug my apps on IIS rather than the dev server that comes with it. <
You can solve this error by running cmd as admin
than
Do the same as in picture for windows 32 bit
Just make changes in 64 bit as framework64 instead of framework only
Than go to iis and refresh the site
If u still got some error make changes in application pool