Change Physical Path Credentials for Web Site using powershell

I need to set the Physical path Credentials for a Website in IIS7 using Powershell.

I can get my powershell code to run without error but it never changes the actual credentials. Even after an IISRESET. I need advice on how to set the Physical Path Crednetials for a site using powershell.

Here is what I've tried :
Attempt #1 :
import-module webadministration
Set-ItemProperty "IIS:\Sites\MyWeb" -Name virtualDirectoryDefaults.username -Value "domain\username"
Set-ItemProperty "IIS:\Sites\MyWeb" -Name virtualDirectoryDefaults.password -Value "Mypassword"

Attempt #2
import-module webadministration
$website = get-item "IIS:\sites\MyWeb"
$website.virtualDirectoryDefaults.userName = "domain\username"
$website.virtualDirectoryDefaults.password = "Mypassword"
$website | set-item
Who is Participating?
JasonLattinConnect With a Mentor Author Commented:
Ok... I found a solution...

Attempt #3
import-module webadministration
Set-WebConfiguration "/system.applicationHost/sites/site[@name='MyWeb' and @id='1']/application[@path='/']/VirtualDirectory[@path='/']" -Value @{userName="domain\username";password= "Mypassword"}
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