CF8 on 32bit Server 2008 Install Issues

Brand new Server 2008 with IIS7 install, fresh download of CF8 developer version (not the 64bit version).  The administrator won't show up.  When I go to the administrator, I get a 404 not found error.  When I browse through Explorer (not IE) it's there.  Everything is installed in the default folders.  I added the .cfm MIME Type (application/x-cfm) through IIS Manager and that didn't help.  Our other servers are Server 2003 and installing CF8 was a breeze.  We can view .html pages.

Anyone have any ideas?