Looks like you have another JBoss AS 7 running on the same ports (as can be seen in the logs "java.net.BindException: Address already in use: JVM_Bind localhost/127.0.0.1:8080"). You try to start 7.0.2 but when you accessing it over http the 404 error is returned from 7.0.1 version.
Make sure you have only once active JBoss AS 7 at the same time.
HTH