I tried to install VL under Virtual PC, but I ran into problems and decided Virtual PC wasn't Linux friendly. There are no Virtual Machine Additions for Linux, and you really need those for proper video and integration with the system. I did get a fine VL installation in VirtualBox under Vista. I'd recommend that. It's a free download. I installed VL 5.8 in maybe September, 2007, when I couldn't get sound and wireless working in VL 5.8 on a hard drive partition. In VirtualBox, no problems.
When 5.9 Standard came out, sound and wireless worked in the hard drive partition, so I no longer needed the VirtualBox VectorLinux. It served me well during the transition, though.