I found one strange behavior with VS2010 and MOSS 2010. When I tried to run Object Model from console application to access MOSS2010 application, I found it failed by raising an exception
After analysis I found it is a bug in VS2010 Console/Web Template, it fails to run object model with Target Framework 4.0 and Platform target x86/x64. So the solution to this is change Target Framework to 3.5 and Platform Target to “Any CPU” on project properties page.
If anyone still struggles, ref: FileNotFoundException
