Edit: Is it better? Hard to say, it's rather subjective. Does it work? Yes.
Windows 7 has the Microsoft Virtual PC XP Mode
Windows Virtual PC requires a CPU with
the Intel™ Virtualization Technology
or AMD-V® feature turned on. This
feature must be enabled in the system
BIOS. For details on how to enable,
visit the Configure BIOS page or check
with your computer manufacturer.
The great thing is that if you download the Windows XP Mode you only have to fill in a password and the system is good to go (fully licensed as well, though you need a valid Windows 7 or RC installation). I'm not really into VMs, but I know this one has USB support out of the box.
- Publish and launch applications installed on virtual Windows XP directly from the Windows 7 desktop, as if they were installed on the Windows 7 host itself.
- Cut and paste between your Windows 7 host and any virtual machine.
- Access your Windows 7 Known Folders: My Documents, Pictures, Desktop, Music, and Video, from inside the virtual Windows environment, such as Windows XP Mode.
Worked very well for me!
Copied from the Running XP as a virtual machine - suggestions wanted question.