Virtual PC 7 and Windows XP Mode for Win7 (XPM) Release Candidate are both now available!!!
The Virtual PC team has announced the release candidate for Virtual PC 7 and XPM (Windows XP Mode on Windows 7)
This feature allows you to run an application inside a Windows XP virtual machine and have the application seamless integrate with the Windows 7 desktop from an application publishing standpoint.
This does not require MED-V although a future release of MED-V will allow for extended management capabilities and integration for XPM.