Need help in configuring Shibboleth IDP and test it with my own REST Service (SP)

[Peter Schober]

* Srinivas Munigala <srinivas.munigala at gmail.com> [2014-03-05 17:49]:
> 4. The question is how can I get my SP's metadata registered with the IDP?
> 
> The documentation says about *Load SAML Metadata for the SP's*
> 
> Does it mean to copy SP's metadata into relying-party.xml (@
> $IDP_HOME/conf/)

Follow the link for loading metadata, that is the documentation.
Start with adding a Filesystem Based MetadataProvider to your
conf/relying-party.xml and from that reference the SAML metadata file
for your SP, which you put into the metadata directory.

> 5. Do I need to make any changes to IDP's metadata (@
> $IDP_HOME/metadata) to communicate with SP

Depends on whether the installer guessed your domain and entityID
right and/or to your liking. For most setups it will be good enough,
but it is lacking often required further information (such as
Organization and child elements or mdui extension elements, etc.).
For the tests you seem to be doing it will be fine.
-peter