A problem with redirect loops in IIS (8.5) with ASP.NET MVC 5 (and Identity)

Ever see something like this ?

http://localhost:80/MyApp/Account/Login?ReturnUrl=%2FMyApp%2FAccount%2FLogin%3FReturnUrl%3D%252FMyApp%252FAccount%252FLogin%253FReturnUrl%253D%25252FMyApp%25252FAccount%25252FLogin%25253FReturnUrl%25253D%2525252FMyApp%2525252FAccount%2525252FLogin%2525253FReturnUrl%2525253D%252525252FMyApp%252525252FAccount%252525252FLogin%252525253FReturnUrl%252525253D%25252525252FMyApp%25252525252FAccount%25252525252FLogin%25252525253FReturnUrl%25252525253D%2525252525252FMyApp%2525252525252FAccount%2525252525252FLogin%2525252525253FReturnUrl%2525252525253D%252525252525252FMyApp%252525252525252FAccount%252525252525252FLogin%252525252525253FReturnUrl%252525252525253D%25252525252525252FMyApp%25252525252525252FAccount%25252525252525252FLogin%25252525252525253FReturnUrl%25252525252525253D%2525252525252525252FMyApp%2525252525252525252FAccount%2525252525252525252FLogin%2525252525252525253FReturnUrl%2525252525252525253D%252525252525252525252FMyApp%252525252525252525252FAccount%252525252525252525252FLogin%252525252525252525253FReturnUrl%252525252525252525253D%25252525252525252525252FMyApp%25252525252525252525252FAccount%25252525252525252525252FLogin%25252525252525252525253FReturnUrl%25252525252525252525253D%2525252525252525252525252FMyApp%2525252525252525252525252FAccount%2525252525252525252525252FLogin%2525252525252525252525253FReturnUrl%2525252525252525252525253D%252525252525252525252525252FMyApp%252525252525252525252525252FAccount%252525252525252525252525252FLogin%252525252525252525252525253FReturnUrl%252525252525252525252525253D%25252525252525252525252525252FMyApp%25252525252525252525252525252FAccount%25252525252525252525252525252FLogin%25252525252525252525252525253FReturnUrl%25252525252525252525252525253D%2525252525252525252525252525252FMyApp%2525252525252525252525252525252FAccount%2525252525252525252525252525252FLogin%2525252525252525252525252525253FReturnUrl%2525252525252525252525252525253D%252525252525252525252525252525252FMyApp%252525252525252525252525252525252F

As it turns out, IIS can generate redirect loops whenever there's a freshly deployed (installed) MVC application that hasn't had its application pool correctly setup.

Just thought I'd put this here in case anybody else runs across it.