I have been looking for the definitive article that tells you how to set up Windows 7 and Visual Studio 2010 for WCF development and I haven't found it yet. I did however find the information I need; most of which can be found here...
http://www.schnieds.com/2008/10/setting-up-iis7-in-vista-for-aspnet-wcf.html
Once I get some time, I'll write my own article. For now, go there and pick and choose the information you need.