I installed .NET 4 on the server I would be installing SP 2010, and everything worked out just fine.
Later, I learned that just putting 4 on a machine doesn't change the IIS setting from .NET 2 to (the new) 4. I tried that, and get HTTP 500 errors.
PUtting IIS back to .NET 2 fixes the problem, but I suspect there must be a way to use .NET 4?