I have a .NET 1.0 component in the GAC that I want to re-compile with .NET 1.1 so that I can use it on machines that have only the 1.1 runtime.  So I compiled in 1.1 with a new version number and created a publisher policy assembly which I also added to the GAC as policy.1.0.MyAssembly.  I remove the old assembly and add the new assembly and policy to the GAC.  

But when I run the ASP.NET application compiled for the old component, it says assembly not found even though it also says the Publisher policy file is found.  Does this mean publisher policy files are broken in .NET 1.1?  If I go into the Framework Configuration MMC and configure the assembly it works fine.  Anyone have any suggestions?

Here is what the log shows on the error:
=== Pre-bind state information ===
LOG: DisplayName = MyAssembly, Version=1.0.1027.19127, Culture=neutral, PublicKeyToken=133297ceedec1c0d
(Fully-specified)
LOG: Appbase = file:///c:/inetpub/wwwroot/MyApp
LOG: Initial PrivatePath = bin
Calling assembly : (Unknown).
===

LOG: Publisher policy file is found at C:\WINDOWS\assembly\GAC\policy.1.0.MyAssembly\1.1.0.0__133297ceedec1c0d\policy.1.0.MyAssembly.config.
LOG: No redirect found in host configuration file (C:\WINDOWS\Microsoft.NET\Framework\v1.1.4322\aspnet.config).
LOG: Using machine configuration file from C:\WINDOWS\Microsoft.NET\Framework\v1.1.4322\config\machine.config.
LOG: Post-policy reference: MyAssembly, Version=1.0.1027.19127, Culture=neutral, PublicKeyToken=133297ceedec1c0d
LOG: Attempting download of new URL file:///C:/WINDOWS/Microsoft.NET/Framework/v1.1.4322/Temporary ASP.NET Files/custtraxii/d69cd8e8/47ae0587/MyAssembly.DLL.
LOG: Attempting download of new URL file:///C:/WINDOWS/Microsoft.NET/Framework/v1.1.4322/Temporary ASP.NET Files/custtraxii/d69cd8e8/47ae0587/MyAssembly/MyAssembly.DLL.
LOG: Attempting download of new URL file:///c:/inetpub/wwwroot/CustTraxII/bin/MyAssembly.DLL.
LOG: Attempting download of new URL file:///c:/inetpub/wwwroot/CustTraxII/bin/MyAssembly/MyAssembly.DLL.
LOG: Attempting download of new URL file:///C:/WINDOWS/Microsoft.NET/Framework/v1.1.4322/Temporary ASP.NET Files/custtraxii/d69cd8e8/47ae0587/MyAssembly.EXE.
LOG: Attempting download of new URL file:///C:/WINDOWS/Microsoft.NET/Framework/v1.1.4322/Temporary ASP.NET Files/custtraxii/d69cd8e8/47ae0587/MyAssembly/MyAssembly.EXE.
LOG: Attempting download of new URL file:///c:/inetpub/wwwroot/CustTraxII/bin/MyAssembly.EXE.
LOG: Attempting download of new URL file:///c:/inetpub/wwwroot/CustTraxII/bin/MyAssembly/MyAssembly.EXE.

Here is the policy file:
<?xml version="1.0" encoding="utf-8" ?>
<configuration>
  <runtime>
     <assemblyBinding xmlns="urn:schemas-microsoft-com:asm.v1">
      <dependentAssembly>
        <assemblyIdentity name="MyAssembly" publicKeyToken="133297ceedec1c0d" culture="nuetral" />
       
        <bindingRedirect oldVersion="1.0.0.0 - 65535.65535.65535.65535" newVersion="1.1.0.0" />
      </dependentAssembly>
     </assemblyBinding>
  </runtime>
</configuration