I use httpErrorsweb.config on my sites to handle 404 errors. This does not work correctly until I added existingResponse="Replace"to node, but now I do not get a yellow screen of death errors on my local development machine.
<httpErrors errorMode="Custom" existingResponse="Replace" >
<remove statusCode="404" subStatusCode="-1" />
<error statusCode="404" prefixLanguageFilePath="" path="/error.aspx?c=404" responseMode="ExecuteURL" />
</httpErrors>
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