I’m having same problem using WAMPServer:
New 3.4 install on localhost;
Multisite upgrade;
bbpress seems to be working but buddypress isn’t [not really sure!];
The primary site seems to be working but the secondary site shows 404 errors although it seems the pages are intact in the pages section…
Apache mod_rewrite is running and my production server [Godaddy] doesn’t seem to be having the same issues…
what else can I check to get the second site recognized???
Jimidi