Is Web API available for .Net 3.5 SP1? The SP1 does include System.Web.Routing assembly so I guess it should be available for SP1 too. I downloaded the Web API from:
WebAPI requires .net 4. You can't use it on .net 3.5 (sp1 or not).
You also can't use the preview releases for production code as you don't have a "go-live" license, so even if you could get it to work, it wouldn't be legal. You need to use at least the ASP.NET WebAPI Beta to get a go-live license.