iis 7.5 handler "extensionlessurlhandler-integrated-4.0" has a bad module "managedpipelinehandler" in its module list

First Repair .NET Framework

and configure your iis using

http://www.sitefinity.com/documentation/documentationarticles/installation-and-administration-guide/install-sitefinity/configuring-the-iis-to-host-sitefinity-projects