The contents of the "public" folder are supposed to be in your web root. So you're probably better off with a separate virtual host instead of accessing your Craft site in a sub folder for that reason. You can also move the contents of the public folder to the web root for localhost. Just change the path to the craft folder in index.php in that case.
I created an instruction on how to install Craft's demo site on Wampserver some time ago. Although that's not exactly the same as installing Craft, you should be good to go after following "WampServer setup" and "Virtual host setup".
If you're still having trouble after that, then it's probably worth taking a look in either the server logs or the logs at craft/storage/runtime/logs to see what's wrong.