I ran into the "System.InvalidOperationException: Cannot load the X.509 certificate identity specified in the configuration." error as well. At that point I added the <dns value="localhost"/> to any identity section that was missing it.
I then got another error. The erro was:
"Please try changing the HTTP port to 8732 or running as Administrator.
System.ServiceModel.AddressAccessDeniedException: HTTP could not register URL http://+:8080/evalservice/. Your process does not have access rights to this namespace"
I tried changing the port. Running as administrator fixed the issue, but I did not like that solution. There was a link in the message that I followed. "http://msdn.microsoft.com/en-us/library/ms733768.aspx"
I ran the netsh program and ran this command to fix my problem.
http add urlacl url=http://+:8080/evalservice/ user=DOMAIN\username.
NOTE: to delete the urlacl, netsh, will need to be ran as administrator.