I'll revisit this later...

I got partway through a flawed set up of IIS for a Visual Studio project before I realized I was going down the wrong path.

1. Type "cmd" at the start menu
2. A command window for C:\Windows\system32\cmd.exe will spawn
3. Type ipconfig at the prompt
4. Get the IPv4 address. (Note: this may change from day to day depending upon your work environment)
5. Put something like: localhost       10.236.19.28 in your hosts file at C:\Windows\System32\drivers\etc as applicable.
6. Open Internet Information Services (IIS) 7 Manager (if you don’t have it, get it here: http://www.microsoft.com/download/en/details.aspx?id=2299)
7. Right-click at the "Sites" folder at the upper left (under the first expandable menu) and select Add Web Site...
8. The "Add Web Site" dialog box appears. Give:
   
   1. any name desired for "Site name"
   2. the path to your UI project at "Physical path"
   3. localhost at "Host name"
9. After completing the "Add Web Site" dialog box, go to "Application Pools" at the upper right of the ISS Manager.
10. Associate version 4 of the .NET Framework with localhost
11. Run Visual Studio 2010 as Administrator
12. Select File > Open > Web Site... and then select "Local IIS"
13. You should see a line item for your web site, so select it and then press the "Open" button
14. You may be prompted with: "The ASP.NET 4.0 Web extension is not enabled on the Web server. http://localhost is targeting ASP.NET 4.0. Do you want to enable ASP.NET 4.0 on the Web server?" to which you should answer "Yes"
15. At this point I abandoned the process...