I like to develop against local virtual hosts when I work with Drupal. Here is the apache httpd.conf configuration that has served me the best so far. The first VirtualHost is the default .. .simply replicate the second VirtualHost entry and edit accordingly. A simple edit of /etc/hosts to enter the virtual host name that matches the virtual host entries in the httpd.conf and a quick reload by apache and you are good to go. I particularly enjoy the independent logging for each site.