I want a website to be deployed automatically to a local IIS (built in Windows XP Pro SP3), avoiding VisualStudio-built-in server if possible. I'd like development source files to be stored in a project folder outside wwwroot (I wouldn't mind built files to be copied to wwwroot each time I press F5).

I don't store my projects inside default directories inside "My documents". What should I specify as in "Web location" when starting an "New website" in Visual Studio 2010? A deployment path in wwwroot, a folder where I'd like to save my project, or something else?

I want the website to be a part of a complex solution in VS 2010, also icludinc a class libray project, a WinForms application project, a Windows Service project and a common Entitity Framework data model.