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This may be documented in an issue queue already but it needs to be more prominent. When installing CKEditor and CKFinder in sites/all/libraries you may need to edit the Global Profile settings (admin/config/content/ckeditor). Specifically, the Path to CKFinder library should read %l/ckfinder not %m/ckfinder.
It's possible this step isn't always necessary as the site I am working on originally kept the libraries in sites/all/modules/ckeditor. However, I think some mention of this setting should occur in the README.txt.