I was able to resolve my locally installed 404 issue by restoring my permalinks to the default setting.
sjfbarnett, I did seem to get my pages to preview after publishing by simply resetting the permalinks to default. Try that if you havent yet.
Same problem here on a local installation. Wish I was writing with a solution. No one has answered me on my question so far, but I’ve seen suggestions about checking permalinks with 404 problems. None of it seems to give much info. Good luck and if I find out anything I’ll look you up.