I think I might have IIS setup wrong. In VS 2010, I clicked File > New > Web Site. I have not modified any of the code. In VS, if I right click Default.aspx and View in browser, it appears exactly as I would expect. However, when I push the files to my web server, things don't look so good.
When setting up the site in IIS, I set the physical path to C:\inetpub\wwwroot\asptest. The site does not work at this point. It errors with "<compilation debug="false" targetFramework="4.0" />".
In IIS Manager, I set my Application Pool Default to 4.0.