Why dont you try entering the password in the prf. In the "Password-" field for the personal folder, just try entering the password of the pst. And then go to the client, delete the registry key that has the first run value. After this try importing the prf using the importprf switch from the run command.

Also one importing thing here, if pst is stored on UNC, then that is actually not supported even by Microsoft. So it is recommended that the pst is on the local path.
I hope this will resolve your issue.
reply to this post with the result....

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