At first, this is what I got.

Failed to access IIS metabase.

Description: An unhandled exception occurred during the execution of the current web request. Please review the stack trace for more information about the error and where it originated in the code.

Exception Details: System.Web.Hosting.HostingEnvironmentException: Failed to access IIS metabase. 

Thanks to Vin, he was able to solve this error with following command:

C:\Documents and Settings\profilename>c:\WINDOWS\Microsoft.NET\Framework\v2.0.5

0727\aspnet_regiis.exe -ga IWAM_PCName

 

I tried to restart IIS and browse my application and this is what I got again (haisst! This really bugged me).

Object reference not set to an instance of an object – TrackAuthenticatedUser

After doing a several search over the web, reading forums, blogs, articles the error keeps occuring.  One thing I notice, I cannot find IIS_WPG and ASPNET user when I try to grant access in the DotNetNuke installation directory. Last resort, I uninstalled .Net Framework and installed it again. Finally IIS_WPG and ASPNet User are now created.

My DotNetNuke is now up and running! Yahoo!