Unable to configure restore points - Error 0x800707B

After restoring my new laptop back to factory settings (to fix problem I was having with MSE), I find that I am now unable to configure my restore points. I am trying to increase the storage space so I can have several restore points. When I click 'Apply' or 'Okay' after changing the space allocation, the following error appears:

"The filename, directory name or volume label syntax is incorrect. Error 0x800707B"

The following drives appear in the Restore Config window with Restore set to 'On':

System_DRV
Windows7_OS(C:)(System)
Windows7_OS(C:)(Missing) -- this seems odd to me

For background info, I restored to factory settings and added MSE and then other programs one-by-one. After programs were re-installed, I restored my data from the previous night's backup. Everything is working fine and there are no system errors that I can see.

Would anyone have any insights on this problem?

try recommendations of richc46 and report back.

for more help on how to turn System restore off and on:
System Protection - Turn On or Off

Thanks, guys. I will do this as soon as my iphone backup/sync finishes, which I think will be a while, and report back.

Sorry for not checking the boards first. Will do that next time.

You guys ROCK! That solved my problem. Wish all problems were that easy