Does anyone know what this value is for?
If it is set to 1, then it seems that you can only have one request going to the server at once. For example, we have a classic ASP file that loads fine, but also has images in it (which come from the same script on the server). The page will load, but the images will never load in... the page just spins forever.
Upping the MaxProcesses value in IIS7 fixes this, but then each time a new process is spawned we then run into problems with session values not persisting as well as long page loads that we don't get when MaxProcesses is set to 1.
There is probably some other setting I don't know about that works in tandem with this.
See this question for the answer (server side debugging was on).