Hi Suba!
About your screenshot - it seems that majority of requests sent haven't even been executed - 5394 requests got 403 error, 493 request result code wasn't given (may be IIS have hung up) and only 6 of them passed (you can see it section Result codes in your report).
I've attached my samples may be it will help you to reproduce error. It converts yahoo page to pdf and saves it in C:\Pdfs folder also there is some logging added so you can see log file and all errors there.
Hope this will help. I've tried with different frameworks 2.0 and 3.0 with identical results received. Please note that I use Windows Vista Business Edition and IIS7, VS 2008 and .NET Framework 2.0(also I've tried on .NET Framework 3.0)
Anton
Sources_7044ea6a.zip