Permalinks not working

I'm trying to get MarketPress set up on my local network server, and surprise surprise the pretty permalinks are throwing nothing but 404 errors.

After looking through the other issues people have been having with the pretty permalinks, I've looked at .htaccess and mod_rewrite and I'm struggling to figure out what's going on here.

Anyways, here's my system info:
Apache 2.2.22 (Win32) / PHP 5.4.3 / MySQL 5.5
WordPress 3.4.2 / MarketPress 2.6.4