Evan H
As for as security is concerned, just be sure to realize that SSL only secures the transport of information between the client and webservice. That being said, encrypting the traffic over SSL is a Good Idea.
There are a couple ways to accomplish this. From the perspective of a developer, you can get the SSL certificate installed in IIS and change the Urls of the clients to point to the new secure url (https://olduser/service.asmx). Be aware that if the domain name of the certificate does not match the url the client uses to connect (or if you let the certificate expire), the clients will start throwing exceptions. This makes it advisable to avoid using an IP address as the endpoint for your SSL webservices.
In some environments, that might not be possible, another alternative which I have used in the past, is to have the Network Department to purchase SSL appliances. If your webservice consumers are grouped in the same physical location (such as a warehouse), you can install an appliance on each end of the WAN link. This gets you the same thing as above, but you dont have to make development changes, and the cpu overhead of processing SSL is offloaded to the appliance.
Pushing webservice traffic over SSL is really a "first step" to security.