VMWare, MS Virtual PC or Dual Boot

Anyone had experience with VMWare or MS Virtual PC 2004 or 2007? I have taken a number of users' computers with Vista on them, and created a dual boot with XP. By moving partitions around (more space for XP) and then finding all the XP drivers, installing XP, XP updates, XP drivers, virus software, programmes and all of their updates is a time consuming process.

Has anyone had good results with XP emulators (as sometimes the drivers are hard to find for XP) and have a way of using the virtual PC on a Vista Home Basic machine? As you know most introductory machines are Vista Basic and don't support virtual PCs.

The other issue is the installation of the operating system and the updates does anyone know of a good procedure for slipstreaming or creating an ISO with all of the operating system updates already installed?