Standard disclaimers apply as to breaking the EULA, and developer agreement. That said, another option to consider is just throwing together a machine based on HCLs listed at www.insanelymac.com and www.hackint0sh.org. One can be built for $400 or less, or get an MSI Wind U100 for which CD images can be downloaded (be sure to buy a retail copy of Mac OS, though).
I say this based on experience with trying to get a VM up and running under VMWare. In the "time vs. money" debate, actual hardware won out. Once I did get a VM working, the list of "X doesn't work" or "Y works with fiddling" was too long for my tastes. In contrast, getting a known-good machine build was either much less work or (in the case of the MSI) nearly plug-and-play.
With all of that said, I finally bought a Macbook Pro and a Mac Mini. The two hackintoshs in the house work fine and still get used daily (the MSI makes a sweet baby Mac). But for pro work, I'm better spending my time doing paying work rather than hacking configuration files.