"The resource you are looking for does not have a handler associated with it" - error occurs after entering http://localhost in IIS 7.5

Hello, I have installed Microsoft Visual Studio 2008 successfully on my 64-bit windows 7 machine. My IIS is turned on. Under IIS sevice, the following services are turned on: IIS 6 management compatibility, Application developement features (.NET extensibility), HTTP errors and redirection, HTTP logging, Logging tools, Request monitor, Tracing,  Dynamic content compression and request filtering. But when I runhttp://localhost,, "The resource you are looking for does not have a handler associated with it" error occurs. Error code is 0x80070002. Please suggest the solution. I need to run .net project. My localhost is run on port 80.