I have never tired this, but if you were going to go through all the trouble of setting up OS X as a virtual pc, then wouldn't it be easier just to boot in OS X. This would no doubt be faster then any emulator.
I'm interested -where do you work and where are you based? I work on FCP and Avid and I've had some issues - not insurmountable - transferring projects between the two. Haven't tried any sort of emulation yet.
I am a cameraman/editor for a small production company in regional Australia, we make commercials for free-to-air TV and the odd corporate dvd.
My wife and I would both like to get back into a bit of hobby short film making. A mac is pretty expensive for a hobby toy, but I can get Leopard and FCP Studio 5 for free from work.
I have only used FCP and Premier, do you find much difference between FCP and Avid? Do you use them both out of convenience or do you find advantages in each of them?