I was looking for the "Change Execute Permissions" in IIS 7.
In IIS 6 you would go to Web site > Properties > Home Directory Tab:
But I could not find it in IIS 7. I found the solution on http://msmvps.com/blogs/bernard/archive/2007/08/12/website-property-page-mapping-between-iis-6-and-iis-7.aspx
Features View pane – Handler Mappings – Edit Feature Permissions…
Check "Read", "Script" and "Execute" in the "Edit Feature Permissions" dialog.
This site gives you a comparison between IIS 6 and IIS 7 dialogs.
A tab that was missing in the comparison was the ASP .NET tab on a virtual directory.
This tab allows you to set the ASP .NET framework version (1.1 or 2.0)
In IIS6 is was misplaced and know it can be correctly found add an application pool in IIS7:
> start > run > inetmgr > servername > Application Pools > right click applicationpool > Advanced Settings…
