Dual-booting my system with Windows 7 and Ubuntu and booting the same Windows OS into a VM while running Ubuntu?

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http://askubuntu.com – 0 down vote favorite 1 So essentially I would like to be able to physically boot from either W7 or Linux on start-up, but I would rather remove the hassle of having to shut down everything I'm doing in Linux and wait for Windows to boot up in order to use Windows-only applications. I googled the topic extensively (I think...) and couldn't really find an informative and knowledgeable answer... I would very much appreciate anyone's input on this. Someone on a forum mentioned something about the registry and drivers having issues as the VM runs on abstracted hardware, but I'm not sure if there (HowTos)