For IIS 7.5, Microsoft provides official modules for this!
- URL Rewrite: http://www.iis.net/download/URLRewrite
- Reverse proxy: http://www.iis.net/download/ApplicationRequestRouting
In the site settings, you’ll get an “URL Rewrite” icon.
- Open it
- right click on the “inbound rules list”
- Select “Add Rule(s)”
- Choose “Reverse proxy”
In this dialog you can enter the hostname + port to forward to. After adding the rule, opening the edit dialog offers more customizations.