Microsoft has made it easy for users to use old application in Windows 7, using the Windows XP Mode in Windows 7,but Windows XP Mode will only run on Windows 7 Professional and Windows 7 Ultimate editions and also “requires a CPU with the Intel® Virtualization Technology or AMD-V™ feature.”

VMLite XP Mode is the freeware that offers similar functions as Microsoft XP Mode, but doesn’t require hardware virtualization.

Features :

• Provides similar functions as Virtual PC and Windows XP Mode from Microsoft
• No requirement for hardware-assisted virtualization, namely, it runs without VT-x or AMD-v
• Provides seamless integration with host desktop : Clipboard Sharing, USB Support, XP Mode Snapshot and Recovery,
• Host files can be accessed from within the XP Mode virtual machine easily
• Support 3rd party virtual machine images
• XP Mode boots in 15 seconds
• Copy files between Host OS and Virtual Machine.( Control-C/Control-V )
• Host drives can be accessed from virtual machine

For example, use H:\c to access your host C: drive.

Real Physical IP address can be assigned from the network settings to the Virtual Machine.By default, NAT is used for the Virtual Machine.

VMLite XP Mode runs on any PC with Windows XP and above as host operating system and requires 256MB of RAM and 2GB of available disk space.

Download VMLite XP Mode ( Requires registration to download ).

Source – TheWindowsClub