Exchange and Virtualization

So, can I run Exchange on a virtualization product? Yes, probably, but is it supported? You can read that in  Microsoft Support Policies and Recommendations for Exchange Servers in Hardware Virtualization Environments. The support is rather limited or should I say restricted -

• Only validated hypervisors - that makes sense
• Only Exchange 2007 SP1 on Windows Server 2008 - why not WS03?
• No UM role
• "No other server-based applications, other than management software (for example, antivirus software, backup software, virtual machine management software, etc.) can be deployed on the physical root machine. The root machine should be dedicated to running guest virtual machines."  - this is a tough requirement to meet, don't you think?
• No dynamically expanded disks - why not (besides the performance hit)?
• No clustering if the virtualization has comparable failover - makes sense, could be rather complicated. The recommendation is to do the high-availability using Exchange technologies.
• No snapshots - wasn't this one of the big benefits of virtualization
• A small restriction on the virtual CPUs - no big deal IMHO

In any case, read it for yourself and go back to the MS article whenever your want to read it again, so you pick up the latest changes.