You may want to checkout this post here
From adilei...
Try PowerShell, I think IIS7 has
introduced new administration tools
that look quite powerful. I think you
could also use these scripts to manage
IIS remotely via WMI.
It shouldn't be any more complicated
then VBScript.
Another way would be to use VBScript
to edit the IIS configuration files or
create an administration object, but
that doesn't really seem to be the way
to go about it.
and from jwmiller5...
Do you want to rename it in IIS, or
change the virtual path? adsutil can
do either. It should be installed in
c:\inetpub\AdminScripts
adsutil.vbs SET
W3SVC/svcnum/Root/AppName/AppFriendlyName
"New Friendly Name" adsutil.vbs SET
W3SVC/svcnum/Root/AppName/AppRoot "New
Application Path"