I have a need for a tool that would monitor and more importantly log requests on IIS. This tool would have to report basic info about requests such as date/time of request, time
You should extend and add all of the IIS properties you want to log.
To do this, do the following:
Reset IIS.
You can now use a log parser to look through the log. http://www.smartertools.com/ has a decent one called smarter stats, and is free for a small site.