I seem to have the same problem .... Updating a working (test) install with one test forum, 2 users, and a small database on localhost via wamp. Working on 3.4.7. After converting and installing 4.0rc2 I end up with the same, Also when clicking on the links, I get a 404.... Only ACP links seems to work, but only text. Before testing with my 'normal' forum I like to test the upgrade process. As I can only have one test-install (which I use for my 'normal' board) I am trying to make a localhost test setup with wamp. Could this be the reason ? Maybe I should try a locahost testinstall via linux on a vmware local installation ?? Or is there a bug in the upgrade from 3.4.7 to 4rc2 ?