Creating Scheduled Task via GPO fails on Windows Server 2008 or Vista

When creating a Scheduled Task using GPO and applying it to Windows Server 2008 (or Windows Vista), the task would not appear in Administrative Tools -> Task Scheduler on the affected machines.

Instead, the following error appears in the Event Log:

The computer 'Compress Logs and Backups' preference item in the 'Scheduled Tasks - Compress Logs and Backups {A76A14CE-5000-4AD7-931C-81D50A768C29}' Group Policy object did not apply because it failed with error code '0x80070057 The parameter is incorrect.' This error was suppressed.

The error is not very descriptive, but the issue is the unconfigured Start in parameter on the GPO:

After updating the Start in parameter with any value, and running gpupdate, the scheduled task correctly appears on the servers where the GPO is applied.

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_{Originally posted to: http://www.thesysadminhimself.com/2010/12/creating-scheduled-task-via-gpo-fails.html}