How To Configure Hyper-V with Failover Clustering on Windows Server 2008 Core
Jose Barreto has posted a detailed blog post with many screenshots walking you through his demo setup that shows how he configured his demo for Storage Networking World.
It is an excellent primer on how to configure Hyper-V with failover clustering on Windows Server 2008 core, using:
Windows Unified Data Storage Server 2003 iSCSI Software Target
Windows Server 2008 Core Install