When connecting to the Team Foundation Server (TFS) from a new upgraded Windows 7 Home Edition this morning , I got TF30063 error. And the same TFS server was able to be connected without any issue on Vista before upgrading to Windows 7. I found other users had same issue after upgrading to TFS SP1 when trying to connect to TFS through Internet. I followed the solutions posted online and solved the issue after running the command below and doing a get-latest.

"%ProgramFiles%\Microsoft Visual Studio 2008 Team Foundation Server\Tools\TfsAdminUtil.exe" configureconnections /PublicATUri:<uri>

In my case, I put <uri> to be http://www.primeobjects.com

Cheers