Hello!
I would recommend looking into using PowerShell to accomplish this on IIS 7, as it has built-in "Cmdlets" for adding new ftp sites and virtual directories and in the long run, will be more beneficial to use over VBScript.
These should help get you started:
PowerShell Snap-in: Using the Task-based Cmdlets of the IIS PowerShell Snap-in
http://learn.iis.net/page.aspx/492/powershell-snap-in-using-the-task-based-cmdlets-of-the-iis-powershell-snap-in/
PowerShell Snap-in: Creating Web-Sites, Web applications, Virtual Directories and Application Pools
http://learn.iis.net/page.aspx/433/powershell-snap-in-creating-web-sites-web-applications-virtual-directories-and-application-pools/
http://blog.netnerds.net/category/powershell/
Hope this helps!
Brock Hensley
Technical Support Representative
http://www.ServerIntellect.comManaged Servers, 24x7 U.S. Support, Web Hosting Solutions.