How to get Fiddler to work with local host in asp.net while debugging in Visual Studio

Well I have been using Fiddler for some time now and it is a great tool when debugging a web application in ASP.NET/

Currently I use Visual Studio 2008 SP1 and there have been many issues with images not loading and request handling that Fiddler has helped me solve. it is by far one of the best web debugging tools out there.

You can grab it at http://www.fiddler2.com/fiddler2/
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For now if you put http://localhost./ (NOTICE THE DOT) it will work with Visual Studio