As I do not have any spare PC hardware I decided to install a copy of Windows Vista (Beta 1) on virtualization software. I have a choice of both VMWare Workstation 5.0 and Microsoft Virtual PC.
And the winner is - Microsoft Virtual PC
The reason is simple - I can see what I am doing and what is happening with Virtual PC as it runs with a decent virtual graphics adapter. VMWare Workstation 5.0 runs at 4bit colour until after installation has completed and you install the VMWare tools (which installed fine) but compare that to Virtual PC and the experience is so different.