It's most likely that you need to modify the settings in your install/deployment.properties file.
You should start out by reading the docs/GettingStarted.pdf. It'll help you get this issue squared away and will ensure that you have a sample quickstart running.
Getting started didn't help. But it was rather easy:
instead of "org.jboss.esb.server.home=F:\devel\jboss\jboss-4.2.1.GA"