ASP.NET and Virtual Machines

I am beginning to install Hyper-V on one of my machines and set up a few virtual machines.  I wanted to get some discussion going on if others are using this technology and what kind of issues you are having with ASP.NET.

This could be either development issues or production ones depending on what stage you are using virtualization for.  One of my thoughts was to create multiple platforms for testing and staging as it would allow you to simulate a lot of different things without having to have multiple machines involved.

I am also interested in what type of hardware you are using to host your virtualizations.  So let me know what you think and how you have things setup and of course problems you have come across.  I will answer any questions that I can and I plan to post more as I get deeper into it with my own testing.