Error running vb.net asp page on XP Pro SP2

[Scott]

On a fresh rebuild of XP Pro SP2 and new install of VS.Net 2003, I get
the following error whenever I try running a very simple page from the
IDE;

*****************************************************************************************************
Access to the path
"c:\windows\microsoft.net\framework\v1.1.4322\Temporary ASP.NET
Files\tabtest\46d6a9d7\c4af7ac7" is denied.
Description: An unhandled exception occurred during the execution of
the current web request. Please review the stack trace for more
information about the error and where it originated in the code.

Exception Details: System.UnauthorizedAccessException: Access to the
path "c:\windows\microsoft.net\framework\v1.1.4322\Temporary ASP.NET
Files\tabtest\46d6a9d7\c4af7ac7" is denied.

ASP.NET is not authorized to access the requested resource. Consider
granting access rights to the resource to the ASP.NET request identity.
ASP.NET has a base process identity (typically {MACHINE}\ASPNET on IIS
5 or Network Service on IIS 6) that is used if the application is not
impersonating. If the application is impersonating via <identity
impersonate="true"/>, the identity will be the anonymous user
(typically IUSR_MACHINENAME) or the authenticated request user.

To grant ASP.NET write access to a file, right-click the file in
Explorer, choose "Properties" and select the Security tab. Click "Add"
to add the appropriate user or group. Highlight the ASP.NET account,
and check the boxes for the desired access.

*****************************************************************************************************


The thing is, the folder as described doesn't exist from tabtest and
on. tabtest does exist under inetpub/wwwroot but 46d6a9d7 doesn't. If
I select properties of the tabtest folder, it does have the read only
property checked but if I clear it and then select properties again,
it's checked as read only again.

Any help would be greatly appreciated.

Thanks,

Scott D.