Thanks for this, I am actually currently running VMWare Server which works well on the laptop except for the fact that the network is almost as slow as dial up internet. So I am looking at a different virtualization solution.
I prefer to have a proper VM running rather than just running in XP Mode and MS Virtual Machine itself still has the CPU restriction. So I'll download Virtualbox and see how it performs.
I have changed the CPU in my laptop. You will have to do some digging to see what chips were released with your model of laptop. If you keep it within that same family you should be fine. Regardless, if your bios does not have a VT option, you are dead in the water anyway.