Failed to map the path App '/GlobalResources'

I ran into this error on a machine that I use for development. Since I wasn't the original installer of the software on this machine, I can't speak to how the error came about nor have I seen it before. It occurs when IIS tries to serve any aspx page. While researching other related posts, I learned that this error is usually related to the ASPNET account permissions.

I used a free utility from Microsoft called Process Monitor (highly recommended) and set up a filter to watch only the ASP.NET process. I saw this process was getting an Access Denied error when trying to access HKCR\Interface\{70B51430-B6CA-11D0-B9B9-00A0C922E750} . I gave the ASPNET account full access to that registry entry, reset IIS, and the problem is gone.