Since most new CPUs have been touting virtualization technology as a feature, could it be done there? The short answer is no, not according to the EULA, at least until Leopard:
“This License allows you to install and use one copy of the Mac OS X Server software (the "Mac OS X Server Software") on a single Apple-labeled computer at a time.”
We're quite aware of the benefits of running virtual operating systems for larger organizations, but the big news will come the day that Apple announces that end users can at least run a virtual OS X environment on their Windows or Linux PCs. Somebody cue the theme song to “Jeopardy!” please.