To view the event logs, make sure you're logged on with an administrative account, then go to the Start menu, select Programs (All Programs in XP), Administrative Tools, Event Viewer. In the event viewer window, you'll have a choice of Application, Security, and System logs. The Application and System logs are the most likely place to locate the error message. Try running an ASP.NET page, and if you get the
Server Application Unavailable message, check the Application and System event logs for any ASP.NET-related errors or warnings.
If you find any, post the error message(s), which may help someone figure out what's causing your trouble. In the meantime, you may want to check
this Microsoft Knowledge Base article, which might apply to your situation.
Regards,
Andrew