Question
Setting ClientMetadataCaching to true generates - Object reference not set to an instance of an object
Set caching for portal in web.config: <add key="ClientMetadataCaching" value="true" /> and then unable to access Portal.
Answer
Resolved by setting file permissions - Make sure that IUSR_servername, IWAM_servername, Network Services and ASPNET accounts have full access to C:\Documents and Settings\
Environment
ITBM portal 7.2+