Although I prefer to use index.html myself (mostly because I'm more of an apache than an iis user) , I have to say that on the semantic level, default.html makes more sense.
index.html originates from a time when you could strip the page name from almost every web page there was and get a directory listing. The index.html provided an alternative way to display this directory listing. So basically: the user looks inside a folder and index.html is what he sees
default.html uses a different abstraction: the user has not specified which resource inside a certain path he wants to see, so I show him my default resource
So while one could argue that index.html is the more restful version, default.html is the service oriented version.
Of course, this is only relevant on the semantic level, on the technical level it makes no difference, all webservers in existence should be able to cope with both if properly configured.