If you are having issue getting an asp.net MVC web site running on a server with IIS 7 you should check your web.config settings.  I tried a variety of things, searched around the net, and finally found what I was looking for.

After some trial and error, I found that in order for things to work in IIS7 you need the below entries in your web.config, in the system.Webserver section within modules and handlers (leave other items that may already be there). 

<modules runAllManagedModulesForAllRequests="true" >
                <remove name="UrlRoutingModule"/>
                <add name="UrlRoutingModule" type="System.Web.Routing.UrlRoutingModule, System.Web.Routing, Version=3.5.0.0, Culture=neutral, PublicKeyToken=31BF3856AD364E35" />
            </modules>
            <handlers>
                <add name="UrlRoutingHandler" preCondition="integratedMode" verb="*" path="UrlRouting.axd" type="System.Web.HttpForbiddenHandler, System.Web, Version=2.0.0.0, Culture=neutral, PublicKeyToken=b03f5f7f11d50a3a" />
            </handlers>

I found the below articles to be very helpful in troubleshooting the issue I was having.

 http://chriscavanagh.wordpress.com/2008/03/11/aspnet-routing-goodbye-url-rewriting/