It works fine on my VirtualBox (you do have the latest version?) with the following settings:
Enable IO APIC ticked; rest of Extended Features unticked.
Enable PAE/NX unticked.
Both Hardware Virtualization options ticked.
Type of IDE controller: PIIX4.
Other setting shouldn't matter.
But I do remember having problems in the past. If all else fails, just download VMWare Player. It works fine with that.