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After creating a 20 GB VHD flle and mounting it, the virtual disk appears to Windows just like a physical disk. After attaching this drive, I installed Windows 8 on it. The setup program automatically added the new installation to the boot menu.
Hyper-V was previously a server-only feature. In Windows 8, this powerful feature replaces the wimpy virtualization tools that previous Windows desktop versions had to suffer through. This installation has installations of Windows 7 and 8. You could also run a server version of Windows, resources permitting.
The best thing about virtualization is that a virtual hard disk can be copied from PC to PC and attached to new VMs using this wizard.