Sorted it : Needed to add to default document as index.php in IIS 7 settings
Running: PHP Version 5.2.6, MySQL 5.1, and WordPress 2.6.5 on a Windows Vista x64, running IIS 7.0
Actually anything I click on from the main index page http://localhost/wordpress/index.php, I get:
localhost – /wordpress/
[To Parent Directory]
blah , blah , blah.
Something is wrong, but what?
Spent the last 4 hours fiddling with this. Still no good.