I got some of the following errors:
Import-Module : File C:\Windows\system32\WindowsPowerShell\v1.0\Modules\WebAdministration\WebAdministrationAliases.ps1 cannot be loaded because the execution of scripts is disabled on this system. Please see "get-help about_signing" for more details.
Import-Module : The following error occurred while loading the extended type data file:
Microsoft.PowerShell, C:\Windows\system32\WindowsPowerShell\v1.0\Modules\WebAdministration\iisprovider.types.ps1xml : File skipped because it was already present from "Microsoft.PowerShell".
The following blog post was very helpful in getting this installed and working:
IIS Workstation: Troubleshooting: IIS Powershell Module on Windows 7 RC