Hi,
Note that this installation is doing on a sub folder: C:\wamp\www\test123\
I got this error: mail() [function.mail]: SMTP server response: 550 coba@test.com, Recipient unknown in C:\wamp\www\test123\modules\user.module on line 430.
I found that line 1085: $from = variable_get('site_mail', ini_get('sendmail_from')); above line can't get first argument but always do ini_get('sendmail_from') which mean reading the php.ini. This line should read drupal {variable} table first before read the php.ini.
This is a bug?