SharePoint SP1 with August Cumulative Fails

Installed SP Foundation SP1 thne SP Server SP1, also installed August Foundation Cumulative Update and the Server CU.

While running the Configuration Wizard the upgrade bombs.

10/12/2011 06:37:41  1  INF                          A NotifyEventArgs event received in TaskNotifyEventHandler. Task: applicationcontent NotifyEventArgs.EventCriticalityType: Installing the SharePoint Web Application content files... Message: info
10/12/2011 06:37:41  1  INF                          Acquiring the reader lock to retrieve the state
10/12/2011 06:37:41  1  INF                          Releasing the reader lock to retrieve the state
10/12/2011 06:37:41  1  INF                          Acquiring the reader lock to retrieve the state
10/12/2011 06:37:41  1  INF                          Releasing the reader lock to retrieve the state
10/12/2011 06:37:41  1  INF                          Updating the task notification additional message label
10/12/2011 06:37:41  1  INF                          Not running in high contrast, so we will paint the background with our trademarked image
10/12/2011 06:37:41  1  INF                        Leaving function ConfigurationProgressForm.InvokeTaskNotifyEventHandler
10/12/2011 06:37:41  13  INF                        Sleeping an extra 1 ms so things don't go too fast for the user for this task
10/12/2011 06:37:41  1  INF                        Not running in high contrast, so we will paint the background with our trademarked image
10/12/2011 06:37:41  13  INF                      Leaving function PsconfigBaseForm.TaskNotifyEventHandler
10/12/2011 06:37:41  13  INF                    Leaving function TaskBase.FireTaskNotify
10/12/2011 06:37:41  13  INF                  Leaving function TaskBase.OnTaskNotify
10/12/2011 06:37:42  1  INF                  Not running in high contrast, so we will paint the background with our trademarked image
10/12/2011 06:37:42  1  INF                  Not running in high contrast, so we will paint the background with our trademarked image
10/12/2011 06:37:42  1  INF                  Not running in high contrast, so we will paint the background with our trademarked image
10/12/2011 06:37:42  1  INF                  Not running in high contrast, so we will paint the background with our trademarked image
10/12/2011 06:37:42  1  INF                  Not running in high contrast, so we will paint the background with our trademarked image
10/12/2011 06:37:42  1  INF                  Not running in high contrast, so we will paint the background with our trademarked image
10/12/2011 06:37:44  13  ERR                  Task applicationcontent has failed with an unknown exception
10/12/2011 06:37:44  13  ERR                  Exception: System.NullReferenceException: Object reference not set to an instance of an object.
   at Microsoft.SharePoint.Administration.SPAspConfigurationFile.ApplyActionToXmlDocument(XmlDocument xdAction, XmlDocument xd, String sourceFileName, SupportedXmlDocutmentActions supportedActions)
   at Microsoft.SharePoint.Administration.SPAspConfigurationFile.MergeWebConfig(XmlDocument xdWebConfig, String fileMask)
   at Microsoft.SharePoint.Administration.SPWebService.ApplyApplicationContentToLocalServer()
   at Microsoft.SharePoint.PostSetupConfiguration.ApplicationContentTask.Run()
   at Microsoft.SharePoint.PostSetupConfiguration.TaskThread.ExecuteTask()

Any help would be appreciated.