So my problem with installing WordPress (2.5.1 and 2.6.1) was a blank screen at the point where the install was running in /wp-admin/install.php.
I was able to create the config.php using the web interface, however at the next step of actually installing WordPress it failed with no output to the screen and no error message in the server logs. It did not even get to the point of creating the database tables in the MySQL database.
I found nothing that worked online about this despite many suggestions, but I happened on a fix pretty much accidentally.
The fix was to add the following line to the .htaccess file in the root directory of the server.
php_value zend.ze1_compatibility_mode "0"
Do I know why it worked? No.
It was a setting I had to change for another application (MediaWiki), and it had the added benefit of fixing me up, though it still took a little bit of time to realize that was indeed the fix.
So far, everything appears to be back to normal with WordPress, with the exception of any of the custom tweaks I did. Murphy being murphy, my backup archive is corrupt, but if nothing else, I at least got all of the MySQL data, so my posts are reasonably intact.

I’m having the same problem. Instead of a blank page, it’s Godaddy’s (my domain source) ad page that’s appearing. Can you pls tell me where exactly did you insert that line. Where can i find the htaccess file. Sorry but I’m completely a dummy to this. I hope you could help me.
I’m not sure if the issue would be the same or not, but the .htaccess file would be on the web server in the root directory.
It may not exist at all at this point as it is an optional file or it may be hidden.
It would work to have that line the only line in the file, and shouldn’t cause any troubles. (If it does, just remove the file)
You could create it locally in a text editor, and upload it to the site via FTP.