I tried it an it actually worked quite well, provided that you follow the steps in this article exactly. I missed a couple of the subtle things they mentioned like choosing web application and NOT standalone as you would expect.
Also, there is the final security step in IIS to turn on Basic Authentication. Once I fixed those two issues it worked like a charm. Below is the link to the steps and software provided by bamboo solutions to help developers work on sharepoint applications without needing a server environment:
Additional Tip: After installing, you may run into this issue. If the central admin just shows a blank page then you need to go into iis and click on the central admin website. Once you have done so you will see an authentication folder or tab. Make sure basic authentication is enabled.
If you are running Vista Home then it does not support Windows Authentication so you must use basic.
If you have any sharepoint tips, tricks, resources you would like to share with other sharepoint developers, please email them to Susan Fischer at firstname.lastname@example.org
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