Just a quick note for anyone who has the same problem.
I was trying to install WordPress locally (on top of EasyPHP) and it just would not work.
I set up the database, modified the wp-config.php file with the database details – and went to http://localhost/wordpress/ and it would sit there spinning and doing nothing.
And http://127.0.0.1/wordpress/ didn’t do anything either.
Did some hunting around and found out that localhost is no longer defined as 127.0.0.1 on Windows 7!
Had to edit the c:\windows\system32\drivers\etc\hosts file and uncomment the localhost line.
(BTW Had to run cmd as administrator and then run notepad c:\windows\system32\drivers\etc\hosts).
That made it work.