HTTP Error 404.17 – Not Found
The requested content appears to be script and will not be served by the static file handler.
Error Code: 0x80070032
This especially obnoxious error occurs when you are trying to run a .Net application in IIS7. This happens because ASP.Net is not installed correctly for IIS7. The only solution I have seen here is to just repair the ASP.Net installation using the aspnet_iis -r command for your flavor of .Net.
Click Here for instructions.
If after doing the repair you get HTTP Error 404.2 then click here for the solution to that problem.