Hi, I'm trying to create a ASP .Net project but it get stuck on the following error -

'Unable to create Web project 'WebApplication1'. The file path 'G:\aspx\WebApplication1' does not correspond to the URL 'http://localhost/WebApplication1'. The two need to map to the same server location. HTTP Error 404: Not Found'

If I try using Front page method I get-

'Unable to create Web project 'WebApplication1'. Moved Temporarily'

The Paths are correct, I'm running (all on local machine)-
Windows 2k Adv Server (SP2)
IIS 5
Microsoft Visual Studio .NET Architech edition
Visual Studio 6

I've also got interdev, it seems to work ok

Thanks in Advance