I am still running IE6 on my development PC because I use it to test the websites I'm developing.
I normally only test on IE6, assuming that IE6 is the lowest common denominator of IE family of browsers. If it renders well on IE6, it will be OK for IE7 and IE8. The other browser I use heavily for testing is Firefox 3.x. I assume these 2 family of browsers basically cover the bulk to the web surfers out there.
This is precisely the reason I have not upgraded to IE7. Now that IE8 can render web pages in Compatibility Mode, is it advisable to use IE8 for testing compatibility of websites with IE6?
I understand most people would advise using virtual machine. But it is kind of heavy just for viewing web pages.