NCover, NUnit, and .NET 2.0 Web Services

I have a .NET 2.0 web services and a suite of NUnit tests that make calls to the web service. Both the service and NUnit are running on my local machine. I'm using NCover 1.5.4.

I've followed the instructions at this URL: http://www.ncover.org/COMMUNITY/ShowPost.aspx?PostID=409 but the result is that coverage.xml reports coverage for my NUnit tests, but not for the web service I'm testing.

I've also tried using the //iis switch and the result is:

Waiting for profiled application to connect...
Profiled process terminated. Profiler connection not established.

I notice that most of the documentation explicitly states that NCover works with .NET 1.1 and hasn't been tested with .NET 2.0. And most of the HOWTOs covering testing things running in IIS also describe .NET 1.1. So my first question is... Am I trying to get a scenario working that's simply not possible?

Second question would be: Has anyone else gotten a scenario like mine working?

Thanks,
Matt