Hyper-V is equivalent to Virtual Server 2005. Even though the internal architectures are totally different, the interfaces are similar to each other. Hyper-V is not enabled by default. It is one of the roles that you need to add from Server Manager.
My first Hyper-V error is: "The virtual machine could not be started because the hypervisor is not running."
I did the following to resolve the issue on a Dell Optiplex 745
1. Make sure the CPU supports hardware virtualization
2. Make sure the computer has the latest BIOS.
3. From BIOS, enable Performance|Virtualization, enable Security|Execute Disable.
4. Make a cold reboot. I even disconnected the power cord.
The second issue is the VM doesn't recognize the network adapter card. This issue can be resolved by running the Integration Services Setup Disk. It is explained in http://download.microsoft.com/download/1/b/6/1b687175-0b30-4f56-bb58-2349b2ee1c98/Step-by-Step_Guide_to_Getting_Started_with_Hyper-V.doc
The other possible cause of the network adapter issue is when you load an existing virtual hard disk, and the vhd has Virtual Machine Additions installed. Uninstalling virtual machine additions can resolve the issue.
One last thing I learnt today. The shunt SCSI driver is not needed, and it won’t work in Hyper-V.