virtualbox.org

Cant seem to get the VM started as I tried to create my first machine I a the message " Fatal: No bootable medium found. System halted."
Do I need a Windows bootable program in the drive where the VM is?
Any suggestions are greatly appreciated.

Yes, you need a setup CD (or ISO image of same) for whatever OS you choose to install in the VM. In fact, exactly like a physical PC, except that a physical PC usually won't let you use an ISO.

When I tried loading Windows 7, as a Virtualbox guest, from an ISO created of the DVD, I got the same error.
I had to install it from the DVD with the optical drive selected (Host Drive <drive_brand> a (sr0) - the default) on the Select Installation Media page of the First Run Wizard.
It loaded right up then.
I've got eight other guest OSs loaded from their ISOs so I don't know why the Windows 7 ISO wouldn't work.

That's because you didn't have the ISO mounted correctly, or the ISO was incorrect: i.e. a collection of files from the DVD, rather than a full image of the DVD. These are common errors among noobs.

The ISO mounting feature is used every day, e.g. each time you install the Guest Additions, so you're flogging a dead horse if you try to persuade people that it doesn't work.

Edit:  In fact I see from another thread that your error was the second one: you compiled a data DVD from a collection of files, instead of making a disk image.