Windows Virtual PC and Windows XP Mode
Applies To: Windows 7, Windows XP
Windows Virtual PC is the latest Microsoft virtualization technology for Windows 7. It is the runtime engine for Windows XP Mode to provide a virtual Windows environment for Windows 7. With Windows Virtual PC, Windows XP Mode applications can be seen and accessed from a Windows 7 desktop. To get started, download Windows XP Mode and Windows Virtual PC.
Documentation
Windows Virtual PC and Windows XP Mode Setup and Installation Guide
Upgrading virtual machines from Microsoft Virtual PC 2007 to Windows Virtual PC
Managing and troubleshooting virtual applications in the Windows 7 Start menu