IIS 7 Short Overview Video
 

In this video, Chris Adams, IIS Program Manager, talks about what you can expect for the up coming IIS 7. Key points discussed in this video are:

The platform that IIS 7 is being built upon
The painful Code Red lesson
The Permission Delegation feature
The new UI for IIS 7 that allows greater control
IIS 7's modular environment
Backward compatibility with IIS 6
IIS 7's Roadmap
Download: IIS 7 Short Overview Video
View: Microsoft - IIS Web site
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News source: Full Story

Nice! IIS7 will run under LUA. :)