404 Error Handling – not working

I’m using WP2.5. Awesome! However, something is wrong with 404 errors. Instead of throwing a 404, when you type in ‘http://www.COOL2012.com/blah’, I get every page on the site strung together on one long page. Help!

My .htaccess as written by wordpress:

# BEGIN WordPress
<IfModule mod_rewrite.c>
RewriteEngine On
RewriteBase /
RewriteCond %{REQUEST_FILENAME} !-f
RewriteCond %{REQUEST_FILENAME} !-d
RewriteRule . /index.php [L]
</IfModule>

What gives?