Ok, I can actually get to the admin panel now. You need more documentation Smartertools. 2012 is a beast. It takes 2008 to the extreme level. I had to enable many more services besides .net that don't automatically turn on anymore like they did in 2008 if you set up an asp.net application server. So I had to make sure cgi and isapi extensions were on.
However, I'm still not 100%. I can't telnet to the mail server on port 25 or port 110 and I have opened both of these ports on the firewall. I'm not sure what that is yet. Honestly I hate 2012. Everything that sucked about 2008 has been taken to an extreme level in 2012. Its like they are trying to take a server admin box and turn it into a Google chrome browser. Absolutely STUPID. Server admins want access to all the controls. Hiding them just means we have to work harder to go and find everything to turn it all back on.
Anyway, it is NOT a firewall issue. I've disabled and turned the firewall off and I still can't get to port 25 or port 110...so the mail server must not really be running correctly yet.