One of the pieces of software we support at work is a still much used 16bit piece of software which will not run on a 64bit operating system (it's happy on a 32 bit O/S) so we have been doing some experimenting with running it on Windows Virtual Machine. The XP Mode part of it is great and makes the launching and running of the program via the VM very straightforward and, once set up, it runs alongside all the other progams and you are hard pressed to notice - apart from when it launches - thatn it is anything other than a program runing noormally on a machine.

Was really quite surprised to be honest as we have always assumed it would not be so simple to set up.

It's a free download too!

Needs at least 4gb of RAM