I just cannot find a solution as to why XNA is rendering my models incorrectly. On every model I've loaded with XNA 4.0 (X files and FBX files) it renders some of the faces which are supposed to be hidden/not visible. I've even tried the models that comes with the samples from the App Hubs site.
Here's a backbuffer dump of the device:

All of these models works perfectly fine in my other XNA 3.1 projects.
I've tried switching my project between reach and hidef. I've tried running different shader profiles. I've tried including tangents in the model or generating them in the processor, or even omitting it completely. I've also tried to render it using BasicEffect instead of my own shaders. And I've tried different draw calls (IndexedPrimitive vs UserIndexedPrimitive vs UserPrimitive). I've tried the various Cull options (yes, I actually exported my models again to try Right handed mesh and with flipping winding), Blend options etc. Now I'm all out of ideas...
Oh, I'm also on the latest DirectX release and NVidia release :)
Any suggestions?