Depois de instalar o service pack 1 para o Visual Studio 2010, não é possível criar site no IIS. Aqui está a mensagem de erro:

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Microsoft Visual Studio
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Configuring Web http://localhost/MyWebSite for ASP.NET 3.5 failed.
You must manuallyconfigure this site for ASP.NET 3.5 in order for
the site to run correctly. Visual Studio cannot detect whether this
virtual root has been configured for use with ASP.NET 2.0. The likely
cause is that you do not have sufficient priviledges to access the
IIS metabase. You may need to manually configure this site for
ASP.NET 2.0 in order for your site to run correctly.
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OK   Help   
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Alguém sabe como consertar isso? Obrigado

P.S. Estou usando o windows7 x64.