wish I could run SL client in a VM
Run an SL host with a Lion client.
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No, you're wrong. Those doc's talk all about Snow Leopard as a "Guest" OS, not as a Host OS. that's the point. I know how to run SL Server in a VM, that's not what I need to know.
Actually, they talk about VMware Fusion being supported on "Hosts" and the FAQ I point to makes no distinction between guests and hosts and mentions neither for the Snow Leopard FAQ. It's not clear. Hence why I linked to the trial.