To be able to deploy Asp.Net sites to IIS7 from Visual Studio 2008 when running on Windows Vista, there's a couple of things that needs to be set up first. Aside from the fact that you need to be running Visual Studio as an administrator (either by choosing 'run as Administrator' when launching it, or by disabling the UAC), there are a few IIS6 compatibility features that needs to be installed. These can be found by going to Control Panel > Programs > Turn Windows features on or off, and ensuring that the following are checked:
With that in place, you can go to the Web tab on the properties page for your ASP.NET project and select 'Use IIS web server' instead of the built-in development server, just like we're used to: