Those adventurous should try this, the new virtual pc and XP mode for Windows 7

Currently still in beta, but pretty stable in my opinion.

After installing the virtual pc, you gotta install the XP. The installation of XP and necessary driver is largely automated, but it took around 10 minutes for the entire process.

First issue i have encountered is the lack of East Asian languages, Microsoft doesn't provide a copy of the necessary files. I have to dig for my XP disc for the installation eventually.

Additionally, you could not run the virtual XP and the xp mode programs parallel. By default, the virtual XP goes into hibernation when you closes it. But this prevents you from executing the xp mode programs, though you get a prompt to either activate XP or the program. On top of that, aero peek/snap doesn't work for XP mode programs, and they share a single icon on the taskbar :( Luckily aero shake still works for these programs.

To install any program, only way is to launch XP and installs from there. It would be more intuitive to have the installer be able to install off 7.

Looking at the way Microsoft takes it, XP mode doesn't seems to target average user. If they could iron out the parallel execution and installing on Windows 7. This tool will be neat!