Enabling cURL appears to have fixed the issue.
I’m having the same problem with pages in 2.5. When I go to any page it, it is not found. I’m on IIS 6.0 and am using /index.php/%postname%/ as my permalink scheme. If I remove the index.php and just use /%postname%/ pages work, but posts do not. Changing the permalink scheme isn’t really an option anyway and this works fine in current version I’m using (2.1.2).
I had to revert back to my previous version until a fix is found.