Events in Global.asax are not firing

In my ASP.Net application, I can't get the events in Global.asax to fire on my machine. For instance, Session_Start will not fire.

The same Global.asax works fine on other development machines in my office.

I have tried:

• Both the ASP.Net Development Server
  and my local IIS

• Rebooting the machine

• Removing and recreating the file from
  the project (including deleting it
  from disk)

• All machines are configured the with
  the same level of software (VS2008
  SP1, .Net 3.5, XP)

This is driving me crazy, any help out there?

EDIT: Since the application works on other machines, I don't think it is directly related to the contents of Global.asax. For some reason, my machine does not process the files. I have done a repair of VS 2008 and .Net 2.0. Any other ideas?

EDIT: The application running on all three machines is being pulled directly from source control. It is definitely something specific to the one machine.

Thanks,

Pat