Why’s it a pain in the ass? When I tried it it worked like a charm.
I don’t even use the VM’s Microsoft provides. I just have a VM of windows XP. I usually only test IE8+, if I need to, I can uninstall/re-install a different version of IE (6 or 7) in a matter of minutes.
Maybe I’ll try the VM soon, I’d be interested to see how it works.