the specified solution configuration "Debug|BPC" us invalid
The specified solution configuration "Debug|HPD" is invalid.
Running Blend 4 for the first time, it failed. Luckily I found a solution posted by somebody else. See below.
Microsoft: Your QA sure srewed up. I take it HPD stands for High Performance Delivery. I am glad somebody had the answer.
Using regedit.exe I navigated to th registry path
HKEY_LOCAL_MACHINE\SYSTEM\CurrentControlSet\Control\Session Manager\Environment
and selected the key Platform. Platform had the value HPD.
Then I deleted only the value HPD. After this the key Platform was still there but empty. I closed Regedit, restarted my PC and run Blend 4.
The build for my HelloWorldSilverlight4 now succeded.