Getting started with ASP.NET Web Applications

Newbie question I'm afraid.

I am trying to start writing an ASP.Net application in VS2003 using one of the examples from Karl Moore's books. So, New Project\Visual Basic Project Type\ASP.Net Web Application Template and enter in a path of http://localhost/WebApplication1.

However, I get an error every time "Unable to create Web project. File path does not correspond to URL path etc HTTP Error 404."

I have followed the help and tried to choose the valid path, but VS keeps on prompting with this error.

I have W2K3/IIS6/FrontPage Extentions etc all installed, but seem to be having no joy with this.

Anybody know what I am doing wrong here?

Thanks
Jas

Do you have administrative rights on your machine?

If you don't then thats your problem.

Thanks Ryan. I am working on this test machine as an Administrator. This is a single machine that is running the AD etc. Is there something special that the local administrator account needs perhaps within IIS to be defined?