On my sandbox (WinOS 2008) I installed Web Platform Installer 2.0. Then through the PI I installed Frameworks and Runtime (.NET Framework 4.0), IIS 7, and Web Deploy Tool 1.1. I took a vanilla ASP.NET app from the new VS2010 project template and deployed to IIS 7 using the new packaging tools. Depending upon whether the app pool was integrated pipeline or classic I got these errors:

HTTP 404.17: The requested content appears to be script and will not be served by the static file handler.

HTTP 500.21: Handler "PageHandlerFactory-Integrated" has a bad module "ManagedPipelineHandler" in its module list

After corresponding with some devs at Microsoft, they thought there might be a bug in the PI. I ran the following and the problem was fixed: 

C:\Windows\Microsoft.NET\Framework\v4.0.30319>aspnet_regiis.exe -iru -enable

More fun with WCF. Out of the box IIS 7 supports the HTTP protocol only. To configure named pipes, TCP, or MSMQ you must use the IIS configuration tool appcmd.exe located in %windir%\system32\inetsrv. (The command-line tool updates the %windir%\system32\inetsrv\config\applicationHost.config file.) For example, if tcp runs over port 808 and my web server's windir is c:\windows then the command to enable tcp is:

c:\windows\system32\inetsrv\appcmd.exe set site "Default Web Site" -+bindings.[protocol='net.tcp',bindingInformation='808:*']

One last detail: each WCF service hosted in its own application (virtual) directory beneath the Default Web Site must also be explicitly enabled for non-HTTP protocol support:

c:\windows\system32\inetsrv\appcmd.exe set app "Default Web Site/[app dir]" /enabledProtocols:http,net.tcp

Now that the tcp protocol is supported in IIS 7 over port 808, a client endpoint is available for netTcpBinding.