There is no real common reason why not host the service in IIS / WAS.
If you want absolutely, completely 100%, make sure that your service constantly starts some process, such as a continuous cycle or a polling monitor, and if any interruption, no matter how brief, is a serious problem, then you will want to search for alternative hosts.
Win Server AppFabric is most useful for hosting and caching WF services. Please note, however, that Win Server AppFabric + Win Server Service Bus 1.0 represents the first steps in convergence between the Azure platform and the private Windows Server platform ... In other words, whichever of the two methods you choose, what will be making bread and oil after 5 years.
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