Visual Studio USE LOCAL IIS WEB SERVER issue with IIS 7.5

My Visual Studio 2010 issues following error when I try to map application to use local IIS:

A larger imag开发者_如何学Goe can be viewed here:

http://img717.imageshack.us/img717/8323/errorvi.jpg

I run VS2010 as administrator and I have installed (I guess) all necessary services and IIS features.

What could be the reason?

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Updated:

Having looked at the error message again, when you say you run as administrator, are you running as an account that a member of the Administrators group or the real Administrator?

If it's an account that's a member of the administrators group then you still need to right click and "Run As Administrator".

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Ok. Every time when I reinstalled IIS it suddenly started to work. Then, next day issue reoccured. There was an issue with domain group policy, it turned out that some services were getting disabled with PC reset.