Virtual Box by Sun Microsystems
I've recently been using Sun Vm Virtual Box to run various smaller Linux distrobutions on top of my Windows XP Pro install. I realize that there are other similar programs out there with many more features available, but I've been impressed with Virtual Boxes' simplicity and functionality. So far, no problems and it does what it was developed to do! Oh yeah it's also free!
http://www.virtualbox.org/
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