Visual Studio: COMException opening project file

Question

I am using VS 2008. When I opened a c# project file created by another developer I received a System.Runtime.InteropServices.COMException. I searched the web and found the solution was to comment out the ProjectExtensions section of the project file. I did this an it opened fine. But looking over the commented code I don't understand what would cause this. Does anyone have a clue why this would fail on my local machine? I have IIS 7 installed and running properly.

  <ProjectExtensions>
    <VisualStudio>
      <FlavorProperties GUID="{349c5851-65df-11da-9384-00065b846f21}">
        <WebProjectProperties>
          <UseIIS>True</UseIIS>
          <AutoAssignPort>True</AutoAssignPort>
          <DevelopmentServerPort>62088</DevelopmentServerPort>
          <DevelopmentServerVPath>/</DevelopmentServerVPath>
          <IISUrl>http://localhost/&lt;/IISUrl&gt;
          <NTLMAuthentication>False</NTLMAuthentication>
          <UseCustomServer>False</UseCustomServer>
          <CustomServerUrl>
          </CustomServerUrl>
          <SaveServerSettingsInUserFile>False</SaveServerSettingsInUserFile>
        </WebProjectProperties>
      </FlavorProperties>
    </VisualStudio>
  </ProjectExtensions>

Answer 1

Okay I found the reason(s): 1. I was not running VS 08 as administrator 2. I already had a site mapped to localhost so it could not create it on starting the project Solution? Edit the project file in notepad and change the IISUrl value to localhost/sitename