Microsoft has released its long overdue URL rewriter module for IIS 7 under a "Go Live" license. Generally speaking this means they feel the code base is stable enough for production use, but still not quite done in an official sense.
Staring with this release, the URL writer is compatible with both kernel mode and user mode output caching. And to make configuration easier, three built-in rule templates are offered for the most common URL rewriting tasks. Additional rule templates can be created by developers if needed.
Microsoft's URL Rewriter has support for PHP applications running under IIS including WordPress, MediaWiki, b2Evolution, and Mambo. For setup information on these and other popular PHP applications see Microsoft's PHP Applications on IIS article.
Both the URL Rewriter and any PHP application running under IIS require the FastCGI module. An updated version will be installed along with the URL Rewriter if not already present. A warning about this update:
If your PHP application was coded in a way so that it relied on the REQUEST_URI server variable to contain the requested URL without a query string or to contain the final rewritten URL, then installing this update may break your application. Before applying the update, please make sure that your application does not rely on incorrect behavior of FastCGI module.