Nope. You can write ASP.NET pages in any text editor. However, to make any use of those page you'll need to install .NET. If you don't install some flavor of Visual Studio you'll need IIS (windows server or windows XP professional) in order to run the pages. There are free versions of the .NET development tools such as Visual Web Developer. That comes with a development web server that eliminates the requirement of IIS.
-Peter
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