Microsoft Internet Information Server (IIS) Express Beta Coming Soon
No delivery date has been announced, however Guthrie said the first public beta release is very close. He also said to expect IIS Express to be lightweight and super quick to install. It will include a full web server feature set, including SSL, URL Rewrite, Media Support and "all other IIS 7.X modules."
A patch for Visual Studio 2010 and Visual Web Developer 2010 Express will be released later this year. It will allow developers to use IIS Express in place of the built-in ASP.Net Developer Server, a feature that many developers will find to be useful.