If MS decides not to pursue VPC, then I think that, between QEmu, GuestPC, and Bochs, at least one of them is going to be a usable alternative. My impression is that, at least as far as Bochs is concerned, it is written in a fairly rigorous way, like other OSS, and should not be that hard to port. And I think it's going to be a LOT faster on a Core Duo Mac than it is today. Even if a Core Duo emulates a Pentium M (single proc) running at say 1GHz, this will be well into the useful range for many tasks.