The configuration section 'standardEndpoints' cannot be read because it is missing a section declaration
Well, after much searching, trying different options, reconfiguring, reading documentation, I finally found a post that should clear it out:
NET 4.0 Beta1/Beta2 Web Application Configuration section missing declaration error
Appearently, on a windows server 2008 box, most .net 40 stuff works (well stuff that I've tried), but a couple of the items were missed. I didn't see an sp2 for win2k8 in the updates, so I downloaded and ran the HotFix. And what do you know? That worked. I've seen a bunch of posts on how to fix this error. This might just be the solution you're looking for.