Having decided on giving the WCSF a try, I had a pretty smooth experience with installing WCSF.
The February-2008 release of WCSF does not use the Enterprise Library 4.0. It uses Enterprise Library 3.1. Although, the EntLib 3.1 is sufficient for WCSF-Feb'08, it just feels good to have and build upon the latest version. It took a few careful steps to get the WCSF working with EntLib 4.0. And even after that, at times, the guidance packages generate code that still uses EntLib3.1. This is not a major problem because I was able to re-reference the projects to the latest EntLib 4.0 assemblies.
The foremost concept to understand is the Modular structuring of the Web Application.
Then comes the understanding of Model-View-Presenter pattern. It took a while for me to figure out the role of Controller.
There is also the concept of a Service that gets consumed by a Controller. This Service has nothing to do with Web Services.
In fact, there is much more fundamentals to understand than I could discover in the hands-on-lab sessions.
The best resource (and by far the best writing) to explain concepts related to WCSF is Simon Ince's blog series. His posts made me understand the purpose of WCSF and have also inspired me on the various architectural considerations.