Every so often, I see a report that IE Mobile is not caching web pages on the device. Upon investigation, it turns out that the reporter notices the empty directory “\Windows\Temporary Internet Files” and assumes that is the location of the cache. It is not: the cache is located, by default, at “\Windows\Profiles\guest\Temporary Internet Files”.

You can change this location, as well as the location of history and cookies, by editing the value of the registry keys found here: “HKCU\Software\Microsoft\Windows\CurrentVersion\Explorer\Shell Folders”. There is one key for each of cookies, cache, and history, and each value is a string representation of a path.