When I try and create a project in Visual Studio 2003 .NET I get the following error.

The web server reported the following error when attempting to create or open the web project located at the following url: http://localhost/webapplication1. "The Operation Timed Out"

I've tried loads of things to get it to work reconfiguring the web development components and reinstalling them in the correct order. Joining the VS Developer group, setting folder permissions, checking the 'World Wide Web Publishing' service.

I use dreamweaver at the moment and that works fine so IIS is working.

Any ideas anybody