Re: page not found errors
I currently develop BuddyPress locally using Windows IIS7 and PHP 5.3; haven’t experienced these issues at all, but it’s possible a combination of .htaccess and web.config files might be gumming something up.
Not sure if this is helpful, but this is currently the web.config that I’m using.
https://codex.buddypress.org/developer-docs/iis7-web-config/