we can understand your frustration if things don't turn out the way you'd expect.
In fact, the creative cloud is an online account / service that allows you to retrieve all the necessary tools without having to use physical CD-Rom as in the past.
all software requires a hard installation on the machines, except some services such as Kuler, Extract, ...
other transversal services can be used by all the tools such as typekit, shared libraries, storage and exchange space...
finally each tool can be synchronized with your own account and thus deposit the various parameters specific to each application but also to each project...
for example Dreamweaver can synchronize its general parameters, but also the parameters specific to each site project...
As far as Dreamweaver is concerned, you can also import or export all site parameters (.ste file) from the site management window, independently of online synchronization.
attention, however, if a project uses IIS (as you mention), all the parameters specific to IIS (paths, account, specificities...) will be saved, but IIS will have to be installed on the machine independently to Dreamweaver....
hope that this help
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On re-installing, can you check if the setting "Remove Preferences" in THOR(under Advanced settings) is enabled.
If yes, it will delete all the settings and won't be remembered in the newer version.
Can you please try again after disabling "Remove Preferences".