In Part1 I described the scenario consisting of a Loopback adapter which didn't work after installing Hyper-V.

Before installing the Hyper-V role I selected to use my Loopback Adapter as a "Hyper-V virtual network". After Windows Server 2008 configured the role I had a new network adapter with a similar naming as my Loopback Adapter. I don't know if this one was newly created or the original Loopback Adapter was modified. I have renamed the "new" adapter to clearly identify it as a Hyper-V virtual network adapter.

Anyway I had the "original" Loopback Adapter with all the items before I installed Hyper-V. All items? No, because my non Hyper-V Loopback Adapter had limited connectivity.

As you can see in the next picture the "Virtual Machine Network Service" was not checked.

You have to check this item and then close the network connections. After that you need to recreate your Virtual Server 2005 virtual network because it is now missing. Click "Create..." and select your non Hyper-V Loopback Adapter. Now you can connect from your laptop to your image and from your image to the Internet.

If you still have limited connectivity reboot your host...