wordpress runs very slow on localhost, all other unrelated wp files run fine

I am using windows 7 64-bit, and I set up localhost using WinLAMP. I downloaded version 2.9.2 of wordpress and I start the 5 min installation procedure. However, after entering my database name, login info, blog name, and all that other stuff and click on submit, I get a blank screen. Nothing seems to be happening. I try going to the site directly on my localhost, blank page. If I run any other PHP file on localhost, it runs fine.

I have tried running the site on a variety of browsers (firefox, IE8, chrome). No luck.

Any suggestions? I already tried
1) disabling ipv6
2) turning off windows fireweall

both did nothing to fix the issue

Thanks