MSDN has a great review up on IIS 7.0.
Some of the highlights of the new IIS 7.0:
- Lean server core component (similar to server core in Longhorn). Additional components can be enabled on an as-needed basis. This of course helps to reduce the attack surface of the server.
- No more metabase (finally!). All settings for IIS are now in an XML-based config file (much like the asp.net .config files)
- IIS Manager has been completely redone. I personally think this is a huge improvement over the old admin tool.
- Improved diagnostics and tracing facilities for quickly locating problems in your web server or application pools.
- Improved performance through caching (ASP sites are dynamic which unfortunately leads to performance issues if the content has to be generated dynamically all the time. IIS 7.0 has features that allow for output caching to reduce the amount of database calls, etc.
- Lots of other things…follow the link above for more info.
Thanks to blog.baeke.info for the link.