Which do you think is better? Note that I''m not asking about C# vs. Managed Extensions for C++ for applications in general, just for ASP.NET applications.

There is no form designer support in VS.NET for developing ASP.NET apps in MC++, nor is there a project type for ASP.NET in MC++ - this should give a clear hint about how MS views the issue.
Furthermore ask yourself: Do you really need the lowlevel control of C++ for something as high-level as web programming?

Once there was a time when all people believed in God and the church ruled. This time is called the Dark Ages.