Fiddler and Proxies for Windows Phone

This article from last year is a great starting point for addressing issues either with proxies or for accessing network traffic from the Windows Phone emulator:

Probably the missing piece for most people is step 4:

In the command windows on the bottom left corner of Fiddler type: prefs set HostName where HostName is the name of your desktop computer

Then you can simply navigate to :8888/FiddlerRoot.cer">http://<yourhostmachinename>:8888/FiddlerRoot.cer to install the Fiddler root certificate (useful for SSL debugging!)