Recently we purchased a machine which support Hyper-V. Ensured with intel on the support of the processor and mother board.
Our server has the below configuration and with win 2008 R2 Hyper-v Server installed.
1. INTEL XEON 1220 PROCESSOR &
2. INTEL BTS MOTHERBOARD
3. 16 GB DDR3 RAM
4. 2Nos TB SATA Hard Disk Drive
5. Server Cabinet with 400 W Power Supply ( Prime Source )
After we have installed the Windows 2008 R2 hyper-v server, we tried to create VMs via the Hyper manager client tool.

Ensured the hyper -v server has installed with latest updates and settings. Created a VM and tried to launch it where got th error with below message.
Error.: While launching the Hyper-v Machine it fails with an error of An error occurred while attempting to start the selected Virtual Machine
Virtual machine Id D714DA9E-C429-4F85-B17B-9F967796250A
RESOLUTION
We installed the KB 2517374 using WUSA command line and rebooted the server. Able to install the VM successfully.
SOME GOOD LINKS FOR YOUR REFERENCE:
http://technet.microsoft.com/en-us/library/cc732470(WS.10).aspx
http://support.microsoft.com/kb/2517374
View and request hotfix downloads
Thanks
E.Ravi