It emulates a standard PC and its associated hardware. Thus, it can be used to run nearly all operating systems available for the PC, however issues can arise when trying to install uncommon operating systems that have not been specifically targeted in the development of Virtual PC. Subsequently emulated hardware may not be fully functional, or certain operating systems may not run altogether.
Virtual PC's current version number is 5, for the Windows operating system.
A similar but competing product is VMware.