WordPress MU

I think I installed everything correctly, and went through all the steps listed at

http://trac.buddypress.org/wiki/installing-buddypress

But after I activate the buddypress theme & view my site the page comes up completely blank.

Is there anything I'm missing?

also, the plug-ins don't seem to be loading either.

White screen = errors.

Is this a new MU install?
Was it working before you installed BP?
Did you ask on the mailing list?

Just FYI, I installed a fresh MU a couple days ago, and the latest BP. Worked for me.

There's no such thing as a white screen :)
Try enabling PHP error reporting and you'll see what's wrong.
Try checking error.log

Make sure you have the latest BuddyPress version and follow the new install instructions:

http://trac.buddypress.org/browser/trunk/INSTALL-README.txt