By default the firewall in Windows 2008 is blocking the ports 69 UDP (Altiris PXE MTFTP Server service) and 4011 UDP (Altiris PXE Server service).
Blocked port 69 (UDP) will cause: PXE-E32: TFTP open timeout
Blocked port 4011 (UDP) will cause: PXE-E74: No MAN_INFO or OS_INFO options found
To resolve this issue you have the following three options:
Windows 2008 Server with PXE Server service installed and running (firewall enabled)