logicuk - Please ensure you're using PHP5, this will not work on PHP4 (as the FAQ states). No doubt your server doesn't display php errors and just displays a blank page, it won't be an actual issue with the cache system since when you install by default it is turned off.
You'll probably need to disable plugins to get back into your admin cp, to remove the product if you're not on PHP5, you can do this by editing /includes/config.php and adding this line:
Code:
define('DISABLE_HOOKS', true);
Once you've removed the product, you can remove that line from config.php to bring all your other products back online.