While Virtualization of hardware is getting hotter by the day, Ms teched created a blog post about virtualization:
Should I virtualize SQL Server? What benefits will I see? What do I need to consider when making this decision? These are some of the questions we are frequently asked as Virtualization continues to be a hot topic. The short answer is yes – Microsoft Virtualization (Windows Server 2008 R2 Hyper-V + Microsoft System Center) delivers significant benefits including reduced costs through server consolidation and power and space savings, improved server utilization, greater agility for responding to dynamic business needs, rapid server provisioning, reduced management complexity and reduced downtime during failover with Hyper-V Live Migration.