VS 2003 hangs when creating ASP.NET project

[zdrakec]

Hello all:

I have a machine running IIS 5.1 on which I have installed VS 2003. I
have run aspnet_regiis.exe -u and aspnet_regiis.exe -i.
When I open VS 2003 and attempt to create an ASP.NET project, the IDE
hangs. Furthermore, I am unable to get IE to display the default.htm
(or any other web page) either by referencing "localhost" or the
machine name in the URL (e.g., "http://localhost/etc." does not
work)... I get the "Page cannot be displayed" error message.

Any suggestions?

Thanks much,
zdrakec