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Big thanks to Cory down at Infinity Computer for showing me this one.
Microsoft Virtual PC.
http://www.microsoft.com/en-us/download/details.aspx?id=24439
"Save time and money as Virtual PC allows you to maintain the compatibility of legacy and custom applications during migration to new operating systems and increases the efficiency of support, development, and training staffs.
With Microsoft® Virtual PC 2007, you can create and run one or more virtual machines, each with its own operating system, on a single computer. This provides you with the flexibility to use different operating systems on one physical computer. "
If you need to create a virtual machine to run a different operating system such as an earlier version of Windows, this is the way to do it. Create a Virtual PC and set all the conditions you want. I use this to play old games like Duke Nukem 3D.
Cheers. Si.
Checked April 2014 for link and relevance. Still valid for Windows XP