In your web.config:
<system.net>
<mailSettings>
<smtp deliveryMethod="SpecifiedPickupDirectory">
<specifiedPickupDirectory pickupDirectoryLocation="C:\myDropFolder" />
</smtp>
</mailSettings>
</system.net>
Whether to use IIS or some third-party product ... I think it depends on your needs. Is there any feature you would like and that the IIS SMTP server does not have?