Issue seems to be resolved in latest WordPress 3 release candidate.
If I try to create my own rewrite rules, I just get my wordpress 404 page.
RewriteRule ^archives$ http://www.example.com/blog/?page_id=5
That’s exactly what I did. But then I have to link to it like:
http://www.example.net/?page_id=5
But I want the URL:
http://www.example.net/archives
Just like the “About”-page that “ships” with WordPress.