I recently upgraded from Visual Studio 2010 to the Visual Studio 2012 RC. The installer also installs IIS 8 Express which Visual Studio now uses as the default web server.>
I have faced the same issue with you, then solved it,
Here are solutions, I wish it maybe can help
First
In the IIS modules
Configuration, loop up the WebDAVModule, if your web server has it, then remove it
Second
In the IIS handler mappings
configuration, you can see the list of enabling handler, to choose the PHP item
, edit it, on the edit page, click request restrictions button, then select the verbs tab
in the modal, in the specify the verbs to be handle label, check the all verbs radio
, then click ok, you also maybe see a warning, it shows us that use double quotation marks to PHP-CGI execution, then do it
if done it, then restart IIS server, it will be ok