Yesterday our Product Manager faced a strange problem on his Windows 7 box. He created a site (which was a PHP application) but was not able to browse the site using http://localhost . He was getting HTTP status code 503 (Service not available). When
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Read the complete post at http://blogs.iis.net/donraman/archive/2010/08/19/can-browse-my-site-using-http-127-0-0-1-http-lt-machine-ip-address-gt-but-cannot-browse-the-same-site-using-http-localhost.aspx