Hi Kevin,

You can import settings from IIS versions 5.0, 5.1, and 6.0. However, application pools did not exist prior to IIS version 6.0, so attempts to import application pool information from earlier server versions using the wizard will result in errors.

Here's links to the documentation that mention this (word for word):

How to: Import ASP.NET Settings from an IIS Server

http://msdn2.microsoft.com/en-us/library/ms181997.aspx

How to: Import Settings from an IIS Server

http://msdn2.microsoft.com/en-us/library/ms181998.aspx