I am putting together a step-by-step post on how to install, manage and use Virtual Server 2005 on Windows 7. Personally, I believe that Virtual Server 2005 is a LOT better than Virtual PC so I will work with that technology and point out some of its cool “features”.
So look for details on that in a day or so. Hopefully, it will help you get started on Virtualization or working in a separate OS which is a necessity for SharePoint (MOSS/WSS) development or “testing” downloads. 🙂
Update: See my follow up post at https://aboutdev.wordpress.com/2009/05/21/virtual-server-2005-and-windows-7/