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I've been using VirtualBox to test the Win7 beta (and now the RC). And I must say that I really like it. There are things that I like more about Parallels (which I use with my main XP license) - some of the tools, like the ability to compress down the hard disk image after you've been using it for a while - but, for the most part, I do not use the features of Parallels that differ any from what VB can do. At this point I use Windows so infrequently and the free VB is so good that I will not upgrade Parallels at all. (And just to note that I have also tried Fusion, and it's basically the same feeling - I went back to Parallels from Fusion after a while.)
Oh, and I also tried Ubuntu on it, and it ran fine (with the caveat that it was a pain in the butt to get the VirtualBox Tools installed, though at least I get them to work - Parallels never did get their Tools to install.)
If it wasn't for the maddening Windows Genuine Disadvantage crap, I'd move from Parallels to VirtualBox for good on the XP image as well.
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