I was creating my new VM and installed a SharePoint Farm on the local machine. Easy enough. All was good until I tried to run the configuration wizard.
That is when it all when wrong. I got the fantastic error message:
Local accounts should only be used in stand alone mode
Some simple searching brought my to this post ( here ) that gave me the solution. Basically, you need to run the installation in PowerShell (using New-SPConfigutionDatabase), as it exposes properties that are not available through the wizard. Once the database has been created, SharePoint thinks it has a Farm and the configuration wizard can continue on its merry way.
Its pretty simple when you know how ....