1. Set up your database:
cd ${MY_INSTALLDIR}/default_data
If using MySQL-3*: mysql -uroot -p mysql < createdbanduser.sql
If using MySQL-4*: mysql -uroot -p mysql < createdbanduser4x.sql

Then change the default password:
mysql -uroot -p mysql
mysql> update user set password = password('<newpassword>') where user = 'metadot';
mysql> flush privileges;
mysql> quit

Now,
mysql -umetadot -p<newpassword> metadotdb < sampledata.sql

2. Edit the Metadot configuration file:
edit ${MY_INSTALLDIR}/etc/metadot.conf
Set your database password from step 1.
Read the online docs! Especially if you want to use virtual servers.

3. Configure Apache:
Add the follwing to you apache.conf or .htaccess:

Alias /images/ ${MY_INSTALLDIR}/html/images/
Alias /js/ ${MY_INSTALLDIR}/html/js/
Alias /metadot/ ${MY_INSTALLDIR}/metadot/
Alias /public/ ${MY_INSTALLDIR}/sitedata/public/
Alias /skins/ ${MY_INSTALLDIR}/sitedata/skins/
Alias /htmlarea3/ ${MY_INSTALLDIR}/html/htmlarea3/

<Location "/metadot/">
	SetHandler perl-script
	PerlHandler Apache::Registry
	Options +ExecCGI
</Location>

To quote the docs:
"Make sure that this directory is owned by apache:apache"
Read the section about configuring your MIME types.
Now restart Apache.

4. Configure cronjobs.
Read the relevant section in the docs, and be sure to specify the right paths.
HINT: /home/metadot is not used, everything is in ${MY_INSTALLDIR}/${PN}

5. Now go to http://${VHOST_HOSTNAME}/metadot/index.pl
Hopefully everything worked. Now go read the docs and set up your Metadot, and
change the default Admin password.