I was trying to run Virtual Server 2005 R2 on my Vista machine and installed IIS as mentioned below. There was one option I couldn't find however and that was "Windows Authentication".
Apparently there are more differences between the Vista editions as there are mentioned on the website.
Windows Authentication is not available on the Home Editions :-( I also noticed that the good old user manager is not available either (only the wizard interface).
More info about IIS features here