Ed (1/9/2009)
It does not matter what privileges you have when you are logged onto the server. That is not the account used during the restore process. The account running the SQL Server windows service must have access to the network resource. Local System Account can only see local drives, it cannot see the network share. You will need to set up a domain account that can access the network share and use that account to run the SQL Server service.
This is same what i had said.