I have a web-service application that exposes lot of web-methods ( internally calling internal APIs or external web-services). I would like to have a tool to monitor this whole application running under IIS. To be clear I just don't want to inspect the requests that are failing, I also would like to see things like how long different calls are taking . I guess it has to be something like SQL Profiler tool where you can look at all types of queries ( those that run successfully and those that fail too) and then apply all sorts of filter in focusing on the areas that interests you more.
Is there anything built in IIS that could be used for this purpose?
What you are looking for is a runtime profiler for the CLR. The answer is ETW tracing. The tool that can help is PerfMonitor.
IIS 7 has failed request tracing which can help in diagnosing the cause for the failure.
Also IIS logs have lot of information on request, response,duration and few more which can be helpful in getting metrics. I usually use Log Parser for getting metrics from IIS logs
And if you are in IIS7+ then you could use built-in ETW tracing for webservices. Here is the ETW provider for webservice
e04fe2e0-c6cf-4273-b59d-5c97c9c374a4: Microsoft-Windows-WebServices Microsoft-Windows-WebServices