About 10 days after my first support request i had this answer from Business Objects support:
Summary: IIS 7 not supported
I have discussed about your issue with my
resource team and found that we currently do not support IIS 7. The
reason is that it is only available on a Windows Vista, which is a
desktop operating system and not a server. When Microsoft’s Longhorn
server Operating System is available we will start supporting new
products on IIS 7.
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so it's a crystal reports bug, but 10 days to find that they don't support a particular product... too many.
Bye
Damiano