WordPress uses the .htaccess file to handle redirects, allowing nice permalinks and urls. IIS doesn’t allow this sort of thing, so you have to come up with something else. What it boils down to is that you make a custom 404 handler page. Call it /wp-404-handler.php and put this code in it:
$qs = $_SERVER['QUERY_STRING'];
$_SERVER['REQUEST_URI'] = substr($qs, strpos($qs, ‘:80′)+3);
$_SERVER['PATH_INFO'] = $_SERVER['REQUEST_URI'];
include(’index.php’);
Via Keyboard Face.