I just fought this also if we're talking about the same thing.  Starting with 
7.3.2 (I think), the rpm installer (at least for the client) no longer creates 
the /nsr directory.  That directory doesn't get created until after you start 
the networker services.  Finally found that bit of info in the install guide.

Not sure if it behave the same for a server install though.

Dave

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