I had a few projects recently that required me to do a web deployment.

What I have used was the Deployment project that you can create in Visual Studio but you can also use the Team Build abilities to do the Web Deployment.

I have just read a great post explaining how to do it posted by Simon Timms that you can read in the following link:

http://blog.simontimms.com/2010/12/web-deployment-in-tfs-build.html

Have Fun!!!