VS .NET 2002, XP

I just got a new XP Pro build and had VS.NET 2002 installed along with 1.0 and 1.1 versions of the Framework. I cannot create and run a new ASP.NET project. Every time, I get "Server Application Unavailable". I even tried to manually create the vdir (I am an ADMIN) and point a new project there...still fails

I CAN run (and even rebuild and run) old projects that I ported over.

There is nothing in the EventLog and only HTTP 500 msgs in my IISLogs.

Please help!

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