I recently came across a situation where I had to move the the default IIS 7.5 path to a different drive. The process I researched on the web had been so well documented that all I need to do is refer you to that relevant links. :)

What I simply don't understand is why can Microsoft not simply provide that option at the time of the install itself in GUI of course. As opposed to carrying out these changes takes more time for no reason.

This process works fine on IIS 7.0 & 7.5

Moving the INETPUB directory to a different drive

http://blogs.iis.net/thomad/archive/2008/02/10/moving-the-iis7-inetpub-directory-to-a-different-drive.aspx

=====Script by thomad============

REM PLEASE BE AWARE: SERVICING (I.E. HOTFIXES AND SERVICE PACKS) WILL STILL REPLACE FILES
REM IN THE ORIGINAL DIRECTORIES. THE LIKELIHOOD THAT FILES IN THE INETPUB DIRECTORIES HAVE
REM TO BE REPLACED BY SERVICING IS LOW BUT FOR THIS REASON DELETING THE ORIGINAL DIRECTORIES
REM IS NOT POSSIBLE.

@echo off
IF "%1" == "D" goto err
setlocal
set MOVETO=D:\

REM simple error handling if drive does not exist or argument is wrong
IF NOT EXIST %MOVETO% goto err

REM Backup IIS config before we start changing config to point to the new path
%windir%\system32\inetsrv\appcmd add backup beforeRootMove


REM Stop all IIS services
iisreset /stop

REM Copy all content
REM /O - copy ACLs
REM /E - copy sub directories including empty ones
REM /I - assume destination is a directory
REM /Q - quiet

REM echo on, because user will be prompted if content already exists.
echo on
xcopy %systemdrive%\inetpub %MOVETO%inetpub /O /E /I /Q
@echo off
REM Move AppPool isolation directory
reg add HKLM\System\CurrentControlSet\Services\WAS\Parameters /v ConfigIsolationPath /t REG_SZ /d %MOVETO%inetpub\temp\appPools /f

REM Move logfile directories
%windir%\system32\inetsrv\appcmd set config -section:system.applicationHost/sites -siteDefaults.traceFailedRequestsLogging.directory:"%MOVETO%inetpub\logs\FailedReqLogFiles"
%windir%\system32\inetsrv\appcmd set config -section:system.applicationHost/sites -siteDefaults.logfile.directory:"%MOVETO%inetpub\logs\logfiles"
%windir%\system32\inetsrv\appcmd set config -section:system.applicationHost/log -centralBinaryLogFile.directory:"%MOVETO%inetpub\logs\logfiles"
%windir%\system32\inetsrv\appcmd set config -section:system.applicationHost/log -centralW3CLogFile.directory:"%MOVETO%inetpub\logs\logfiles"

REM Move config history location, temporary files, the path for the Default Web Site and the custom error locations
%windir%\system32\inetsrv\appcmd set config -section:system.applicationhost/configHistory -path:%MOVETO%inetpub\history
%windir%\system32\inetsrv\appcmd set config -section:system.webServer/asp -cache.disktemplateCacheDirectory:"%MOVETO%inetpub\temp\ASP Compiled Templates"
%windir%\system32\inetsrv\appcmd set config -section:system.webServer/httpCompression -directory:"%MOVETO%inetpub\temp\IIS Temporary Compressed Files"
%windir%\system32\inetsrv\appcmd set vdir "Default Web Site/" -physicalPath:%MOVETO%inetpub\wwwroot
%windir%\system32\inetsrv\appcmd set config -section:httpErrors /[statusCode='401'].prefixLanguageFilePath:%MOVETO%inetpub\custerr
%windir%\system32\inetsrv\appcmd set config -section:httpErrors /[statusCode='403'].prefixLanguageFilePath:%MOVETO%inetpub\custerr
%windir%\system32\inetsrv\appcmd set config -section:httpErrors /[statusCode='404'].prefixLanguageFilePath:%MOVETO%inetpub\custerr
%windir%\system32\inetsrv\appcmd set config -section:httpErrors /[statusCode='405'].prefixLanguageFilePath:%MOVETO%inetpub\custerr
%windir%\system32\inetsrv\appcmd set config -section:httpErrors /[statusCode='406'].prefixLanguageFilePath:%MOVETO%inetpub\custerr
%windir%\system32\inetsrv\appcmd set config -section:httpErrors /[statusCode='412'].prefixLanguageFilePath:%MOVETO%inetpub\custerr
%windir%\system32\inetsrv\appcmd set config -section:httpErrors /[statusCode='500'].prefixLanguageFilePath:%MOVETO%inetpub\custerr
%windir%\system32\inetsrv\appcmd set config -section:httpErrors /[statusCode='501'].prefixLanguageFilePath:%MOVETO%inetpub\custerr
%windir%\system32\inetsrv\appcmd set config -section:httpErrors /[statusCode='502'].prefixLanguageFilePath:%MOVETO%inetpub\custerr

REM Make sure Service Pack and Hotfix Installers know where the IIS root directories are
reg add HKLM\Software\Microsoft\inetstp /v PathWWWRoot /t REG_SZ /d %mOVETO%\inetpub\wwwroot /f
reg add HKLM\Software\Microsoft\inetstp /v PathFTPRoot /t REG_SZ /d %MOVETO%\inetpub\ftproot /f
REM Do the same for x64 directories
if not "%ProgramFiles(x86)%" == "" reg add HKLM\Software\Wow6432Node\Microsoft\inetstp /v PathWWWRoot /t REG_EXPAND_SZ /d %MOVETO%inetpub\wwwroot /f
if not "%ProgramFiles(x86)%" == "" reg add HKLM\Software\Wow6432Node\Microsoft\inetstp /v PathFTPRoot /t REG_EXPAND_SZ /d %MOVETO%inetpub\ftproot /f

REM Restart all IIS services
iisreset /start
echo.
echo.
echo ===============================================================================
echo Moved IIS7 root directory from %systemdrive%\ to %MOVETO%.
echo.
echo Please verify if the move worked. If so you can delete the %systemdrive%\inetpub directory.
echo If something went wrong you can restore the old settings via
echo     "APPCMD restore backup beforeRootMove"
echo and
echo     "REG delete HKLM\System\CurrentControlSet\Services\WAS\Parameters\ConfigIsolationPath"
echo You also have to reset the PathWWWRoot and PathFTPRoot registry values
echo in HKEY_LOCAL_MACHINE\Software\Microsoft\InetStp.
echo ===============================================================================
echo.
echo.
endlocal
goto success

REM error message if no argument or drive does not exist
:err
echo.
echo New root drive letter required.
echo Here an example how to move the IIS root to the F:\ drive:
echo.
echo MOVEIISROOT.BAT F
echo.
echo.

:success

=====Script by thomad============