Today, while I was trying to add a new content page to a web application, using Microsoft Visual Studio, after choosing the "New Item" option and checking the option "Select master page", by clicking the "Add" button, I received the following error:
Could not find a part of the path 'C:\Program Files\Microsoft Visual Studio
8\Common7\IDE\ItemTemplatesCache\Web\IronPython\1033
\WebForm.Zip\WebForm.vstemplate'.
I fixed the problem by restoring the default project templated as mentioned here.