This operation returned because the timeout period expired

I am unable to run a basic template project because I get the error:

This operation returned because the timeout period expired. 

I can see the emulator, b开发者_运维百科ut it is doing a full OS boot every single time I try and run the application.

---

The emulator system requirements are documented here.

Setup and System Requirements for Windows Phone Emulator

Does your system comply?