I have 2.7.1 installed on http://innovationinteaching.org. It's configured to show a static frontpage, called Home, and the posts page is "Blog". Visiting http://innovationinteaching.org displayed the blog posts just fine, but now, visiting /blog just does a 301 redirect to /innovation. There is NO such page called "Innovation" and there is no permalink or slug for any other page with the word "innovation" in it. Hence, it shows a 404.
I tried changing permalink settings from using /blog/%year%/%monthnum%/%day%/%postname%/ to just /%year%/%monthnum%/%day%/%postname%/ but this hasn't changed anything. I thought it was a redirect issue (use_verbose_page_rules issue) so I applied the patch to redirect.php, but it's still the same.
Totally stuck. Any pointers?