Visual Studio 2010 error: “Project Target Framework Not Installed” when opening a .NET 4.0 project

Question

I am experiencing a rather disconcerting issue with one of my development machines that I hope someone can advise me on.

I have a large Visual Studio 2010 VB solutio

Answer 1

I managed to resolve the issue by replacing the development machine with a new one. Not quite a resolution to the problem but it saved a lot of time uninstalling/reinstalling/repairing over and over again.