<font color=blue>PROBLEM SOLVED. VS was trying to run in localhost (which doesn't exist basically) so I used my local webserver IP address and voila!
Now to actually do something interesting...</font color=blue>

I've been having consistent problems with VS 2003 working on my machine and I was monkeying around in IIS and noticed that on the ISAPI Filters tab, ASPNET is listed but has status 'Not Loaded'. Any ideas why? I checked services and the only thing that seemed connected is the ASP.NET State Service, which I turned on and, nada...

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