I realize I'm late to this party but I came up with a solution that is pretty slick. Assuming you're using Win2008, you can create a "scheduled task" that fires off every time specific events occur in the event log. What I did is enable the IIS-Configuration log and create a task for every time I see an Event ID 50, 'IIS Changes have successfully been committed."
At that point, a batch file fires off to run MSDeploy and replicate all of the changed setttings from one IIS server to the next.
This would get complex if it were multi-master replication, but I have configured it in a master-slave design. (The slave server even has a pre-login warning not to make IIS changes.) It would be an easy matter to spin up additional nodes and configure them as replication targets using DFS-R and MSDeploy.
-Jim