I just setup VS.NET on one of my home computers. The installation went fine, no errors, I followed all steps and did all of the updates and secondary installations that were recommended etc. So I start it up, go to create a new ASP.NET web application and I get this error

Is this talking about IIS? I installed it off of a W2K disk like I was told to and configured it correctly. I have never installed this before, anyone else ever have this problem? I looked around the ASP.NET forums but didn't find anything on it.