Setting up MDS in a 2012 environment isn’t the most straight forward process. 2 issues I encountered while configuring on a standalone Hyper-V VM were IIS related, plus sample MDS package deployment. The following links will help to make the configuration process a little easier:
If you receive the error: “The required .svc handler mappings are not installed in IIS” ; MS Connect recommends adding the server to a domain, and running the MDS configuration manager using a domain account. However, the resolution of the issue was related to incorrect configuration between IIS 7 and the .Net Framework 4.0. Follow this link from Nicolas Cain @ sirsql.net for a handy solution:
http://sirsql.net/blog/2011/12/7/sql-2012-mds-iis-issue.html reboot not required.
Instructions regarding deploying the sample packages can be found here from Jason Howell, Senior Escalation Engineer in the SQL Server Support team specializing in MDS: