I saw this once or twice in previous builds too, but only on my laptop--now I see it on a fresh install on my workstation.

FastJavac compilation (the default) completely fails with the message (to Compiler tab) below. Apparently {netbeans.home} is not being substituted, for some reason. I am running a multiuser install of
f of s:/forte4j_ie/ with a user dir on local disk.

java.io.IOException: CreateProcess: {netbeans.home}/bin/fastjavac/fastjavac -g -msgfile {netbeans.home}/lib/fastjavac.messages -jdk d:/jdk1.3_r/jre/.. -classpath S:/forte4j_ie/system;d:/netbeans/ie_sh
ared/system;D:/NetBeans/ie_shared/Development;S:/forte4j_ie/beans/TimerBean.jar;E:/starteam/gandalfsrc;E:/scratch/testdevel;d:/netbeans/ie_shared/temp/jspwork/SystemFileSystem;d:/netbeans/ie_shared/li
b;d:/netbeans/ie_shared/lib/ext/starteam.jar;S:/forte4j_ie/lib;S:/forte4j_ie/lib/updater.jar;S:/forte4j_ie/lib/developer.jar;S:/forte4j_ie/lib/openide.jar;S:/forte4j_ie/lib/ext/javax-ejb.jar;S:/forte4
j_ie/lib/ext/rmiregistry.jar;S:/forte4j_ie/lib/ext/jndi.jar;S:/forte4j_ie/lib/ext/providerutil.jar;S:/forte4j_ie/lib/ext/fscontext.jar;S:/forte4j_ie/lib/ext/AbsoluteLayout.jar;S:/forte4j_ie/lib/ext/re
gexp.jar;S:/forte4j_ie/lib/ext/servlet.jar;S:/forte4j_ie/lib/ext/xml.jar;S:/forte4j_ie/lib/ext/jh.jar;S:/forte4j_ie/lib/ext/ldap.jar;S:/forte4j_ie/lib/ext/nis.jar;S:/forte4j_ie/lib/ext/cosnaming.jar;S
:/forte4j_ie/lib/ext/ddl.jar;S:/forte4j_ie/liD
        at java.lang.Win32Process.create(Native Method)
        at java.lang.Win32Process.<init>(Win32Process.java:66)
        at java.lang.Runtime.execInternal(Native Method)
        at java.lang.Runtime.exec(Runtime.java:548)
        at java.lang.Runtime.exec(Runtime.java:477)
        at java.lang.Runtime.exec(Runtime.java:443)
        at org.openide.execution.NbProcessDescriptor.exec(NbProcessDescriptor.java:153)
[etc.]