If you suspect that this is an error, then the place to go is Microsoft Connect , where you can report and discuss the error directly using Microsoft.
Edit: I was able to reproduce the look of your comments.
However, I could not reproduce the endless loop. I injected the code into the Global.asax Application_BeginRequest handler of the web application and got the expected behavior of a single redirect.
There are others, and IMOs are much better options for handling global forwarding rules. In IIS7, I use the Rewrite URL module to configure rewrite rules in IIS. You can learn more about this and download it here: http://www.iis.net/download/urlrewrite . The appeal of this solution is that you can customize and update your rewrite rules without recompiling the application.
Edit: I was able to get the raw URL without default.aspx (after the redirect), using instead:
Request.ServerVariables["CACHE_URL"]
It's worth it.
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