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I tried Parallels and Fusion, didn't really see a difference to using Virtual Box which is free and for that alone I think it's cool as hell that Oracle did that. Used Virtual Box for 2 years now, only had 1 problem once, was a glitch in an update but otherwise nothing else. I mainly use Windows on this computer for trading and doing other stuff for business that can't be done or can't be done as good on os/x. And I don't like bootcamping, I'd rather have my desktop switch back and forth between os/x and win7 at the same time, best of both worlds running both OSs parallel to each other.
 
thats a lot of steps, not that it looks to hard to do but i only use windows for 1 app, is it easier to setup VirtualBox from scratch or is VirtualBox just more teadious to set up because its free?

I do not know the answer to your question. I just learned about the VirtualBox today and set it up within few minutes because I already had Boot Camp with Windows 7 setup. Setting up VirtualBox was very easy.
 
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