Error: Unable to create the Web site 'http://wsttest/MobilePricing/'. You are not authorized to perform the current operation.

Problem:

• Attempting to re-publish an existing Web Site from Visual Studio 2008.
• Get the above error.
• Don't understand the cause of the issue as yet

Solution:

• Delete the entire Web Site from IIS Manager (not Explorer) on the Server
• Re-publish 

Status:

• As usual, always grateful to learn if anybody knows the root cause of this problem.