What advantages IIS 7.0 have over its previous versions in terms of deployment?

In IIS 7.0 Deployment and Configuration is simplified to a great extent.

The centralized configuration store of the previous IIS releases, known affectionately as the metabase, is gone. IIS 7.0 features a new delegated configuration system based on a hierarchy of distributed XML configuration files. This hierarchy is comprised of a global applicationHost.config file, which contains server-level configuration defaults, and distributed web.config files within the application's directory structure. These are the same web.config files that are use

In the past, IIS application settings had to be explicitly configured in the machine-level metabase repository before the application could function correctly. With distributed web.config files, applications encapsulate the required server configuration within their directory structure. This dramatically simplifies deployment, allowing self-contained applications to be simply copied to the target server's application directory and thus be up and running immediately with the desired settings.

The new configuration system also gives comprehensive control to the server administrators, allowing them to delegate certain configuration options to the application while maintaining control over others for security or business reasons. In this way, applications on hosted servers can set essential configuration directly in their application without requiring the calling of the server administrator for help or using an external configuration panel.