NTLM authentication and 404 Errors

The last 2 times I've tried to deploy SharePoint 2010 I've come across a problem where I could not log in (due to repeated request to authenticate) or I received a 404 error.
To fix this, you have to add a DWORD in the server's registry:
By setting the DisableLoopbackCheck registry key. Follow these steps:

•     Set the DisableStrictNameChecking registry entry to 1.
•     Click Start, click Run, type regedit, and then click OK.
•     In Registry Editor, locate and then click the following registry key:
•     HKEY_LOCAL_MACHINE\SYSTEM\CurrentControlSet\Control\Lsa
•     Right-click Lsa, point to New, and then click DWORD Value.
•     Type DisableLoopbackCheck, and then press ENTER.
•     Right-click DisableLoopbackCheck, and then click Modify.
•     In the Value data box, type 1, and then click OK.
•     Quit Registry Editor, and then restart your computer.

However, rather follow the preferred method described here when fixing this problem on a live environment.