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To view the PC from the net you need to have a static IP for that machine. Then you will have to make that machine's port 80 open to accept connections from the net.
There are all sorts of way that you can also achieve this with dynamic IP addresses and your router's DMZ, but you didn't specify your setup.
I'm using the setup to host a website while I'm developing it and to allow the client to view it over the internet when I need his input. I really need to go into the security issues I guess although I'm only allowing external access for short periods while the client's actually looking at it.
Any advice on security issues would be welcome. The host pc has the free version of Zone Alarm running. I'm also using the IIS Lockdown Tool and the MS Baseline Security Analyser, but haven't really got to grips with them yet.
Another precaution you might want to take is setting a password on the entire site. Use the Windows authentication for login. This prevents casual browsers and SE bots from finding and indexing the site. Just give the account minimal permissions on the web directory and you should be fine.