A web site is just a group of all files in a folder and sub folders.
There is no project file.
All files under the specific folder - including your word documents, text files, images etc are part of the web site.
We have to deploy all files including source files (unless you pre compile them) to the server.
Files are compiled dynamically during run time.
There will be no single assembly created and you will nto see a "Bin" folder.
The benefits of this model is, you do not need a project file or virtual directory to open a project.
Disadvantage is, all files under the folder and considered to be part of the web site[since there is no project file].
The only way you can exclude a file from the website within the same directory is by renaming them with the extension .exclude