Mod_rewrite-like feature in IIS ( 5/6/7 )

This is what worked for me (Updated for VS 2013, see revision history for 2010, for VS 2015 see this: https://stackoverflow.com/a/32744234/218971):

1. Right-click your Web Application Project ▶ Properties ▶ Web, then configure the Servers section as follows:

   • Select IIS Express ▼ from the drop down
   • Project Url: http://localhost
   • Override application root URL: http://dev.example.com
   • Click Create Virtual Directory (if you get an error here you may need to disable IIS 5/6/7/8, change IIS's Default Site to anything but port :80, make sure Skype isn't using port 80, etc.)

2. Optionally: Set the Start URL to http://dev.example.com

3. Open %USERPROFILE%\My Documents\IISExpress\config\applicationhost.config (Windows XP, Vista, and 7) and edit the site definition in the <sites> config block to be along the lines of the following:

   <site name="DevExample" id="997005936">
       <application path="/" applicationPool="Clr2IntegratedAppPool">
           <virtualDirectory
               path="/"
               physicalPath="C:\path\to\application\root" />
       </application>
       <bindings>
           <binding
               protocol="http"
               bindingInformation=":80:dev.example.com" />
       </bindings>
       <applicationDefaults applicationPool="Clr2IntegratedAppPool" />
   </site>
   

4. If running MVC: make sure the applicationPool is set to one of the "Integrated" options (like "Clr2IntegratedAppPool").

5. Open your hosts file and add the line 127.0.0.1 dev.example.com.

6. ► Start your application!

Some great advice from the comments:

• You may need to run Visual Studio as Administrator.
• If you want to make other devs see your IIS run netsh http add urlacl url=http://dev.example.com:80/ user=everyone
• If you want the site to resolve for all hosts set bindingInformation="*:80:". Use any port you want, 80 is just convenient. To resolve all hosts you'll need to run Visual Studio as an administrator

I think the default place for access logs is

%SystemDrive%\inetpub\logs\LogFiles

Otherwise, check under IIS Manager, select the computer on the left pane, and in the middle pane, go under "Logging" in the IIS area. There you will se the default location for all sites (this is however overridable on all sites)

You could also look into

%SystemDrive%\Windows\System32\LogFiles\HTTPERR

Which will contain similar log files that only represents errors.