Hey Robert:
Yikes, 15 hours to get a post approved. Hope you can answer this question quickly. :)
What's wrong is the typical error that happens when it appears that the browser runs out of attempts to resolve the URL.
It would help if someone actually told me the steps, but I'll list the steps again, and be more specific.
1. Create a Virtual Directory install of DNN. I don't think I need to be more specific here. The only record in the PortalAliast table is 'localhost/dnnfolder', and the physical location of the website is c:/mywebsites/dnnfolder/website/
2. Okay, I create a website called www.dnnfolder.com in IIS. GIve it all the appropriate permissions I have in the past, point to the same folder as the virtual directory (c:/mywebsites/dnnfolder/website/).
3. Then I go into the PortalAlias table and change the value in record 1 to 'www.dnnfolder.com'. I also add records for 'dnnfolder.com' and the 3rd record contains the IP Address assigned to the website, say, '44.55.44.44'.
Now there are 3 records in the PortalAlias table, none of which are localhost/dnnfolder. I delete the Virtual Directory in IIS for 'dnnfolder'.
I close the RDC (Remote Desktop Connection), and open IE or Mozilla or whatever, and type in 'www.dnnfolder.com'. I recieve a 'browser timed out trying to resolve URL issue', that used to happen in only *one* version of 3.x and was related to a bug. I assume this is not that same bug rearing it's ugly head, but that I am doing something wrong this time, though this always worked every other time I did it. I can't think of anything else I can add to this explanation.
I used to be able to do a VD IIS install and convert it to a website install using the above procedure. I hope I have made clear what I mistakenly knew that other people already knew this process and I wouldn't have to desribe it (I should have just done this already, in retrospect), and now someone can supply an answer. Thanks very much in advance for some answer.