Hi All,
Thank you for your suggestions. I did upgrade the hardware and got hold of other ISO images of Windows to play with. My original Windows 7 Ultimate 64-bit ISO still does not work but I am able to create VMs from Windows 7 Professional 64-bit ISO. I will conclude that something is wrong with the ISO although I used the same one to deploy a VM in VMWare Fusion on my desktop weeks ago. I do need a Windows 7 Ultimate VM. Hopefully I can get hold of a different ISO image for it. Thanks again!