As much of a warm fuzzy feeling useing localhost instead of 127.0.0.1 gives most people.. DO NOT USE localhost.
This is why. While in fact they should in all cases have the EXACT same effect. Only one of the two can possible in any way be wrong. And that is localhost. Localhost is a name taged onto the IP address of 127.0.0.1 While 127.0.0.1 is ALWAYS (by IP4 international standards) the computer you working on. While on the other hand.. anyone could set the word localhost in there c:\windows\host file (or where ever/what ever OS) to point to ANY IP.
If this makes sence to you good.... use 127.0.0.1. If it made no sence at all, I'm sorry... use 127.0.0.1
Ok.. now lets see what is wrong here