On the "When Penguins Attack" blog today, there's a brief guide to help you tune your IIS installation for PHP.
IIS is a multi-threaded web server available on Windows NT and 2000. From the Internet Services Manager, it is possible to tune the following parameters: Performance Tuning based on the number of hits per day, Bandwidth throttling, Process throttling, Timeout, and HTTP Compression.
He looks at tips for each of the above, as well as other things like the memory cache size and max pool threads that can be changed with the help of the registry editor...