Yes, but abstracting the hardware completely tends to really bog performance, especially disk I/O. Isn't ESX server a paravirtualization also?
Actually, I haven't noticed, but my hardware is fairly robust (Laptop with 3.2Ghz Desktop CPU, 1G DDR2 RAM, 120G HDD) so it doesn't slow my machine down noticably. I have noticed that Win2K boots up much faster under my VM than it does on a couple of PIII machines I own.
Isn't ESX server a paravirtualization also?
Not sure, as I don't use the ESX product. I use the Workstation product, which has handled every OS I've thrown at it.