applicationHost.Config cannot be loaded error

I have a new install of Vista and Visual Studio 2005. When attempting to run
a web application (virtual directory) I receive a build error that the
applicationHost.config file cannot be loaded.

If I add read and read/execute rights to the everyone group for this file I
can buld and run the application. I attempted a less public group but could
not find one that worked.

I did note that there is a "unknown user" in the security access list - did
a security group fail to install properly? I read somewhere that ASP.NET was
integrated into security so I didn't think it was this group.