Issue:
It is widely now that Windows 7 supports a feature know as XP Mode. This feature leverage Virtual PC to load an XP Virtual machine allowing Windows 7 users to continue supporting legacy applications. However, what may not be as commonly known or at least quite as obvious is how to configure Virtual PC to host another Virtual Machine beside the XP Mode VM.
Solution:
The secret is locating the VPCWizzard.exe Executable within the system32 directory. As shown in the screen shot below, you must find the VPCWizzard.exe and run this executable to configure a new virtual machine within Virtual PC on Windows 7.
The VPCWizzard.exe will allow a new virtual machine to be created that uses an existing virtual disk.
Once a new Virtual Machine has been configured using the VPCWizzard.exe the virtual machine can be started and managed just like the XP Mode VM.