OK - the first problem i ran into when using the Conchango template was the first thing i ever did in the project - create a sprint “work item”. This type of WorkItem represents a sprint and hold all the sprint backlog items that is to be done in the sprint.
What i wanted was to give the sprint a name when the error message “TF 20017 - The area or iteration provided for field ‘IterationPath’ could not be found”
Well after almost a complete day of surfing and phoneing and scratching of heads i found the error. The name is not a textbox but rather a dropdown! More specifically the sprints in the Conchango template is constructed around the notion of areas and iteration paths. The have created a few for you, out of the box.
These make up the sprints for the project and hence needs to be named (or selected in that box rather) [projectname]/[Release]/[Sprint].
The name and organisations of these can be changed and manipulated by right clicking the project in Team Explorer and choosing Team project settings->Areas and iterations.