Today I'm on the quest of hosting a WCF service in IIS7. After enabling ASP.NET 2.0 in IIS7 normal (old-fashioned) services work ok, but .svc services won't work.
Solution: you have to run servicemodelreg -i as an administrator (you can find it in <WINDOWSDRIVE>:\Windows\WinFx\v3.0\Windows Communication Foundation).
Then WCF loads your service.
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