I installed my first Hyper-V Server 2008 on a HP ProLiant DL380 G5 server the other day. HP have a good document that describes what is involved to make it work.
Since Hyper-V Server is built on Windows Server Core it does not have much of a GUI so it might be a bit tricky to find the different tools. I really wanted to configure the HP Event Notifier. This tool will send you notifications by email when the system detects warnings or errors with the server hardware. I also like HP Management Agents where you can trigger an SNMP trap which you can use to test if the configuration of HP Event Notifier is working.
To get the paths to the tools I looked at a server running Windows Server 2008 with GUI :)
Event Notifier Config
C:WINDOWSsystem32CIMntfylwconfig.exe
HP Management Agents
C:WINDOWSsystem32cpqmgmt.cpl
