You have created a new Task Sequence in SCCM, from your Central Administration Site. This Task Sequence will be used to deploy an entirely new Windows 7 x64 SP1 image to client devices. In the first instance you PXE boot a new device and try and run the Task Sequence, it fails with the error This Task Sequence cannot be run because the program files for TSID cannot be located on a distribution point. For more information, contact your system administrator or helpdesk operator.
As the Operating System images and the Task Sequence were provisioned in on the Central Administration Site Server my first thought was that I had forgot to Distribute Content from the ribon. Therefore I went ahead and done this again to ensure it was done.
When this did not fix the issue immediately I looked at the Content Status of the newly created software from Monitoring/Distribution Status and it appears the Distribution Manager was still replicating the content to other sites/DP's.
I then clicked on View Status and it reassured me that the content is being redistributed. Although quite a bit of time passed and it still remained in the In Progress state.
After around 2 hours, the Content Status changed to Success and the light turned to Green. It transpired in this instance the Active Directory did not have Sites and Subnets properly defined, therefore it is my guess that this caused the of the lengthy delay.