I was unable to connect with IIS7 manager to a remote site. I got on the phone with the hosting provider and they started troubleshooting. After a few minutes they went over all my settings, username, password...the whole shebang and I still couldn't. I then asked the support tech if any ports needed to be opened on my side and she said "ONLY PORT 80 NEEDS TO BE OPENED"... after a few more mins I decided to hop over to the IIS7 website but still couldn't find anything incicating specific ports, but I did came across a doc mentioning 8172 as a port IIS7 uses so I went to my firewall did the following

OPEN PORT 8172 OUTBOUND

That did the trick!...and the support tech updated her document accordingly.