I thought I'd share the very few steps required to get a local copy of the Anchor Modeling tool running. This worked for me on 2013/01/10, using Windows 7, IIS 7.5, and Chrome.
1) Get the source from https://code.google.com/p/anchormodeler/source/checkout 2) Check out the source in the subversion repo. I used http://rapidsvn.tigris.org/ as a client and it worked fine.
3) Open IIS Manager (Start | Run... | 'inetmgr' | OK) and find your default site at <local>\Sites\Default Web Site
4) Right-click and 'Add Virtual Directory'
5) Set alias="AM" and Physical path to the checkout directory (should have index.html in the directory)
6) Select the 'AM' virtual directory, now at <local>\Sites\Default Web Site\AM
7) Double-click the 'MIME Types' icon
8) Click 'Add...' and add ext='.directive', MIME Type='text/plain'