Scott mentions in this blog entry planned updates for IIS 7. In addition "We will also shortly begin sharing details of a new web application deployment framework for IIS that enables you to easily automate the deployment of web applications on either a single server or across a web farm of machines.

.NET Web Product Roadmap (ASP.NET, Silverlight, IIS7) - ScottGu's Blog

Here's a blog post from Bill Staples on this issue. Bill is the uber manager of IIS and was the main vision and driver for both IIS 6 and IIS 7 as well as having key involvement since IIS 4.

SQL Injection Attacks on IIS Web Servers - BillS IIS Blog

Worth readin.g

Reading a Hacker's Mind : Running Multiple ASP.NET applications SECURELY on a single web server