As previously mentioned in part one, there are some shortcomings inVirtual PC. It cannot handle OpenGL, DirectX, or any other gaming platforms, so it probably won't run any of your old games.
At the same time, most applications or software can be installed without any difficulty. If your old scanner or printer is not compatible with Vista, you can try using it in Virtual PC and probably you will be able to run them.
If you can't get a program to run under Virtual PC, it might be worthwhile to tweak your VM options. Click Settings and increase the amount of memory available. You may also need to create an extra virtual hard disk to get more hard drive space in VM, or you can try turning the VM sound card OFF, which will free up some memory.