After some digging around I found some instructions on how to change the ServerBindings in IIS 6.0. I needed my app to be bound to an IP address, and not use the local hostname. My question is: what's the difference between the web site identification (in the IIS web site properties under the Web Site tab) and the ServerBindings?
There is no difference.
ServerBindings are a parameter in the IIS metabase. The metabase is essentially the main IIS config file. The "Internet Information Services Manager" that you are using to configure IIS is essentially a user-friendly front end to the IIS metabase.
You can configure IIS to do just about anything you need it to do via the IIS Manager tool. However there are rare occasions where you need to do perform an action not available in the GUI. An example would be, hosting multiple wildcard SSL sites on the same IP and port. In this case you would need to update the ServerBindings in the metabase directly using adsutil script.
So again, there is no difference. They are simply two different ways of updating the IIS configuration.