I found Visual Studio Test edition easier to test with (though it is not free). You can record a browsing session as a single test and it will allow you to read the perfmon stats from both your webserver and database easily enough.
The first step you should take is to look at your IIS logs to find out what is going on there. Log Parser 2 is the tool I would use should get the IIS logs into a database.
Querying that will give you an idea of peak load.
Next step is to formulate a goal or two for the testing. Do you need to make sure the website is able to handle spike loads on a single page or two of X requests per second?
Are you intending on increasing the customers of the site, in which case take the current IIS log load and forumlate webtests that can simulate that range of page requests, but load for the expected concurrent users.
If you are intending to change functionality on the site, you can do a baseline loadtest and compare the performance after any changes to the site.
The real goal in load testing is to prove that the application and hardware are able to handle a target load that the business finds acceptable and still returns pages within a reasonable time.