http://localhost/install/install.php 403.1 Error on install.php

[looknow12]

http://localhost/install/install.php 403.1 Error

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When I try to run http://localhost/install/install.php from the webserver, I receive aL
HTTP Error 403.1 - Forbidden: Execute access is denied.

I performed the following steps:

Installed Mysql
Installed PHP using the windows wizard.
Created new Web Site in IIS.
Went to configuration and added PHP extension to PHP.EXE (tried -c php.ini too)
Tried adding permissions for I_User_machinename to PHP directory and website home directory.
Also tried adding PHP to ISAPI filters.

Any assistance would be greatly appreciated.

Thanks

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BTW, if under application settings I turn on Scripts and Execute Permissions I receive a

HTTP Error 404 - File or directory not found instead of the previous error. Switch it back to Exe permissions: None, it goes back to the 403.1