I want to know that is it possible to create a fully portable virtual machine using any of the VMWare like products? My objective is to create a virtual machine (XP as guest OS), install some app in it, put the vm in a usb2 drive (performance is not a matter), and run it in any windows os (xp, vista, 7) without installing anything in host, using any host account (admin, guest, limited). Is it possible to do that using any vmware like product? If possible then which one is my best bet?
Specifically Pocket ACE. You'll need vmware Workstation to create the package. Check out the youtube video on how to do it. :D
[EDIT] Ace does not fit the requirement of having no Admin rights on the box.
Vmware Thinapp will allow you to virtualize your app without having to go through the hassle of creating and running a whole VM. Here's another how-to video.
thindownload.com has a bunch of thinstalled apps if you want to try it out.
Can't be done due to Hardware assisted virtualization. Basically you need admin rights in order to access all the nifty features that make modern, hardware assisted virtualization so fast.
QEMU can run in a few different modes, when run as an emulator the processor is replicated in software - which is what makes it so slow (but very useful if you're developing for embedded hardware that is different than your main PC)
Do you absolutely need to run the VM on top of Windows? If not, and if re-booting the hardware is allowed, you may be able to install a bootable OS on the USB drive. Boot straight from USB when you're elsewhere, and use the VM tool of your choice to boot from USB when you're back at your desktop (I know VMware and QEMU let you access a raw device).
You may also consider a bootable CD to get to a VM environment, then access the VM on the USB. I know there are CDs that will provide KVM or QEMU (I think Knoppix has it); I've not sure about booting to a VMware Server/Workstation environment.