VMLite XP Mode offers similar functions as Microsoft WIndows XP Mode, but doesn't require hardware virtualization. It allows you to run Windows XP at the same time from your desktop running on a different host operating system.
Even if your computer has VT-x or AMD-V, you should try out VMLite, because it runs faster, and will support 3D/2D acceleration in our next build.
If you want to migrate your old Windows XP to run as virtual machine on your new Windows 7 PC, you can use
our MyOldPCs software.
If you want to boot your old Windows XP directly on your new PC to have a multiple boot system in addition to your Windows 7, you can use
our VBoot software, which boots an operating system from a single virtual disk file in VHD format.
http://www.vmlite.com/index.php/products/vmlite-xp-mode

VMLite XP Mode (No HW VT need - An alternative solution of MS XP Mode)