>>the one that came with your old OEM computer likely won't work
Because? If it's been over 120 days since any hardware changes were made, odds are good it should, if it's for XP Pro...
XP Mode has it's own quirks. You can't boot from a CD, nor access the BIOS as it starts up. I "broke" the XP in XP mode and locked myself out (I used Lusrmgr to remove the password and there's a Group Policy setting that requires it, so I could no longer log in) and was not able to use anything off a boot CD to resolve the issue. Granted, what I did was "unconventional", however, never underestimate the ability of users to gum things up...
MS attempted to make launching XP apps appear "seamless", however, they forgot about the VM startup time, which is noticable on a Laptop, for example...
Also, the VHD file is not backward compatible with VPC 2007 - been there, tried that as well...
Personally, I do not expect many to actually use the facility...
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