When ever you recieve the following in MOSS 2007:
HTTP/1.1 404 Connection: close Date: Thu, 22 Oct 2009 04:57:41 GMT Server: Microsoft-IIS/6.0 MicrosoftSharePointTeamServices: 12.0.0.6219 X-Powered-By: ASP.NET
probably it shows that the web application is cretaed but there is no site collection inside it.
So just go to Central Administration >> Application Management >> Create Site Collection. Create a site collection under the web application and you will stop recieving the error.
Thanks