One of my friends told me that he had a problem in the last couple of days, when he is trying to run asp.net web application; he was getting this error message is showing in his browser:
"Internet Explorer cannot display the webpage"
He uninstalled and installed VS 08 since he taught that this will fix the problem.
If you are facing this problem, simply do the following to fix it :
1) open the following file: "c:\windows\system32\drivers\etc\hosts"
2) Add the following entry in this file:
127.0.0.1 local host
Save the file and then try to run your asp.net application the development server will work perfect :).
Hope this helps.