We have just released IIS 8.0 Express Beta.
Internet Information Services (IIS) 8.0 Express Beta is a free, simple and self-contained version of IIS that is optimized for developers. IIS Express makes it easy to use the most current version of IIS to develop and test websites in development tools like Visual Studio and WebMatrix. IIS 8.0 Express Beta has all the core capabilities of IIS 8 and above as well as additional features to ease website development including:
- It doesn't run as a service or require administrative privileges to perform most tasks
- It works well with ASP.NET and PHP applications
- Multiple users of IIS Express can work independently on the same computer
Read more about it here.