I've managed to configure my server using the .text blog application from http://www.gotdotnet.com/Community/Workspaces/workspace.aspx?id=e99fccb3-1a8c-42b5-90ee-348f6b77c407. Installation was pretty sweet except I needed to modify the example connection strings. They needed to have "Trusted_Connection=true" added.
Because I'm only running a single blog I had to make sure that the application name used in DotTextHelper was null, i.e. "" instead of MyBlog.
Final problem was that the new virtual directory did not have an aspnet_client. I just created a virtual directory pointing to wwwroot\aspnet_client.
I'm going to try linking this to Newsgator later.