OK, I'm done with the preg_replace() in the paragraph parser. It's too buggy. Replaced with preg_match_all()/str_replace_once().
<!-- Enano CMS - IIS7 Rewrite support -->
<configuration>
<configSections>
<sectionGroup name="rewriteRules">
<section name="rules" overrideModeDefault="Allow" />
</sectionGroup>
</configSections>
<system.webServer>
<rewrite>
<rules>
<!-- Main rule - short and sweet-->
<rule name="Enano rewritten URLs" stopProcessing="true">
<match url="(.*)" ignoreCase="false" />
<conditions>
<!-- Don't rewrite if the user requested a real directory or file-->
<add input="{REQUEST_FILENAME}" matchType="IsFile" ignoreCase="false" negate="true" />
<add input="{REQUEST_FILENAME}" matchType="IsDirectory" ignoreCase="false" negate="true" />
</conditions>
<action type="Rewrite" url="index.php?title={R:1}" appendQueryString="true" />
</rule>
</rules>
</rewrite>
</system.webServer>
</configuration>