localhost should have worked. But this FAQ should shed light on a significant changed that happened in 4.2.x:
Though the FAQ neglects to mention that JBoss AS now binds to 126.96.36.199 (but then you saw that in the log entry you posted). But I think that this fact is mentioned in the readme file that come with 4.2.x.
Peter - thanks for the FAQ. I'll bet that's the problem. I can't wait to get to work tomorrow and try it out!