I downloaded the trial version of Virtual PC and installed a full SBS instance under it:

Next step - I will create a number of Windows XP workstations, so my server won't be alone in this cruel world :-)

This is interesting, I can set up the IT infrastructure of a small business under Virtual PC! But seriously now, this is useful to exercise my ultimate scenario: backup and disaster recovery of an SBS under Virtual PC. Hopefully this will make it into another blog post.