Guys, it's been noted and now I've tested. These work best when you start fresh with each beta. I haven't tried a beta on my actual iPhone 4 since beta 2 but thought I would give beta 5 a shot. Restoring from a backup(iOS4) for was causing some crazy problems. Once I wiped the phone and did a fresh install of beta 5 everything is working flawless.
That's the SAME case as me. It was HORRIBLE when I restored from my iOS 4 beta, but starting fresh, everything works flawless for me. I can now receive my messages and view my pics