Install fails… looks like permission problem, or pathing issue

I had an installation all working but decided to uninstall and move the files to a sub folder. I deleted the old file set, removed and recreated the database and downloaded the new 2.8. When I upload everything and call up the my \!dev\wp\index.php I get the normal screen asking for the blog title and email address. But when I continue it fails with the following:

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The page cannot be found
The page you are looking for might have been removed, had its name changed, or is temporarily unavailable.

Please try the following:

* Make sure that the Web site address displayed in the address bar of your browser is spelled and formatted correctly.
* If you reached this page by clicking a link, contact the Web site administrator to alert them that the link is incorrectly formatted.
* Click the Back button to try another link.

HTTP Error 404 – File or directory not found.
Internet Information Services (IIS)
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What’s odd to me is that it’s looking for is:

https://67.199.119.197/!dev/wp/install.php?step=2

Which of course is in the wp-admin directory. Wonder why it’s not getting into that directory?

Thanks
Rich