Microsoft released the Microsoft Virtual PC 2007 Beta today (Oct. 11).
This beta release supports the virtualization hardware built into current generation AMD and Intel processors. It can be installed on Windows Vista as well as run Windows Vista as a Guest OS.
I installed it on a Windows XP Professional PC that had been running Virtual PC 2004. The CentOS 4.4 (Red Hat Enterprise Linux community version) and Windows Server 2003 Enterprise Edition virtual machines I built earlier using Virtual PC 2004 ran fine under Virtual PC 2007 Beta.
Parallels (best known for their Parallels Desktop for Mac) released a new version of their own virtualization product today.
I haven’t tried this product yet but plan to do so in the near future. I was very impressed by their Parallels Desktop for Mac product.