During the keynote @ IT Forum Barcelona which I missed (damn) Jeffrey Snover (PowerShell Architect) did a demo on how to manage a website based on PHP. The video of the demo can be found onto the Channel 9 site. The key message here is that Longhorn is the platform to host your websites because it can run your applications faster then Apache.
Onto the IIS7 site you can find an "Introduction to PowerShell and IIS 7.0" article. And for the developers amongst us they also wrote an article about "Writing PowerShell cmdlets for IIS7"
Go ahead and start writing your own cmdlets to manage future IIS7 websites.That even IIS7 leverages PowerShell scripting is great and I hope more and more of our application will do so. PowerShell is getting famous, new user groups are founded, even during my time at IT-Forum I saw lot's of Buzz about PowerShell (too bad I didn't get a T-Shirt). I hope in the near future we will have someone in Belgium that wants to start an User-Group about this and if you please let me know I certainly be a member.