Super_Sean and MR2...thank you for your assistance. My apologies for not replying sooner as I have only tired all of the below on the weekend.
1) Have you re checked the IP addresses that you have assigned and made sure that they are all different but in the same subnet? IE: 192.168.0.XXX and they all have the same subnet mask and Gateway IP?
Answer: Yes
2) Is the DHCP server on your modem/router turned off?
- if not, either turn it off or make sure that the Static IP addresses that you are using in not in the DCHP pool
Answer: No turned DHCP off on the router.
3) Are there other devices on the network without static IP addresses?
- If your going to use static IPs rather than let the DCHP server assign them, its a good idea to make sure that you use it exclusively, you can run into problems if you don't.
Answer: No all have static IPs.
4) Can you access Xbox Live from your Xbox?
- At least it narrows the problem down to the Xbox-MCE link if you can.
Answer: Yes and it downloaded new updates (thanks Mr2)
5) Are you using Cross-Over or Straight-Through Ethernet cables?
- The Xbox and most routers have auto switching ports that detect what type of cable you use and there have been reports about them getting confused when using x-over cables.
Answer: Straight through but newer routers do not mind the difference.
6) Have you tried to plug the Xbox into another port on your switch?
- Might sound obvious, but it could be a problem with a dud port.
Answer: Yes, all ports are fine.
It works fine now

However, was it the DHCP or the Microsoft update who knows?
Connection does drop now and again, however this may be due to having the oven, dryer and heaps of other power hungry devises going at the same and a power drop momentarily knocks out the router.
Thanks again!