WP Multi Site DB Error on New Installation

I have a newly installed wordpress MU installation with nothing on it set up for subdomains. The problem I am having is when I add a new site, I get a DB error when I try to visit it.

I have followed all instructions & the wildcard is setup correctly.
The site is on a VPS, but a shared IP.
ALL .htaccess & Config settings are correct

Everything looks correct until I try to add a new site.

When I add a new site, the page gets stuck and shows a blank page at: /wp-admin/network/site-new.php?action=add-site
The site is added to the DB
I have also attached a screenshot of what the edit site section of my new site displays (As it looks different than other MU installations I have seen).

I suspect the root of the problem is the installation process never gets completed (The site subdomain is added to the DB), so it might be an issue with my server settings that is not allowing the site to be created.