This is an interesting one. I’m doing some Windows Phone development at the moment and I usually run a debugging proxy on my local machine on port 8888.
After a routine reboot my proxy wouldn’t start up because port 8888 was already in use. I did a “netstat -b -a” to find out what process had taken the port and saw that it was “IpOverUsbSvc.exe”. After a quick search I found that this process is related to connectivity to a Windows Phone device.
After unplugging my phone from USB the port was freed up and the proxy started immediately. The lesson here is to either change the port your proxy uses or to plug out your phone when you restart.