Whether this is possible I don't know, but it would mighty useful!
I have a process that fails periodically (running in Windows 2000). I then have just one chance to react to it before having to restart it and painfully wait for it to fail again. I didn't write the process so don't have the source to debug. The failure is seemingly random.
With a snapshot of the process I could repeatedly and quickly test reactions to the failure.
I had thought of running inside a VM but this isn't possible in this instance.
EDIT: @Jon Cage asked:
When you say a snapshot, you mean capturing a process when it's about to fail (including memory, program state etc. etc.) ...and then replaying it's final few seconds repeatedly to see what effect it has on some other component?
This is exactly what I mean!