It is a FAQ - "Is my workload supported on Hyper-V?". Now the answer is posted in KB957006 Microsoft server software and supported virtualization environments. Rock on.

This article discusses the support policy for running Microsoft server software within the following supported virtualization environments:

•Windows Server 2008 with Hyper-V

•Microsoft Hyper-V Server 2008

•Supported partners' virtualization software
For more information, click the following article number to view the article in the Microsoft Knowledge Base:

944987 (http://support.microsoft.com/kb/944987/) Support partners for non-Microsoft hardware virtualization software

•Server Virtualization Validation Program (SVVP)
For more information, visit the following Microsoft Web site:

http://www.windowsservercatalog.com/svvp/ (http://www.windowsservercatalog.com/svvp/)

Microsoft supports Microsoft server software that is running within the supported virtualization environments that are listed in the "More Information" section, subject to the Microsoft Support Life-Cycle policy. For more information, visit the following Microsoft Web site:

http://support.microsoft.com/?pr=lifecycle (http://support.microsoft.com/?pr=lifecycle)

In some cases, specific versions of Microsoft server software are required for support. These versions are noted here and may be updated as needed.
Note Not all software makes good candidates for running within a virtualized environment. For example, if an application has specific hardware requirements such as access to a physical PCI card, it cannot be supported within a virtual machine because virtual machines generally do not have access to underlying physical hardware.

Read about the licensing update on presspass: New Microsoft Licensing and Support Eases Path to Virtualization

“Expanded Technical Support

Microsoft has updated its technical support policy for 31 server applications so that customers can receive technical support when deploying those applications on Windows Server 2008 Hyper-V, Microsoft Hyper-V Server or any other third-party validated virtualization platform. Now customers can get the same level of product support in a virtualized environment that they are accustomed to with nonvirtual environments. More information is available at http://support.microsoft.com.

To enable this support policy, Microsoft launched the Server Virtualization Validation Program in June 2008. The program is open to any software vendor to test and validate its virtualization software to run Windows Server 2008 and previous versions of Windows Server. To date, Cisco Systems Inc., Citrix Systems Inc., Novell Inc., Sun Microsystems Inc. and Virtual Iron Software Inc. are participating in the program.

“Technical support of virtualized images is an industrywide challenge,” said Roger Levy, senior vice president and general manager of open platform solutions at Novell. “Novell and Microsoft continue to collaborate to optimize bidirectional virtualization between Windows Server and SUSE Linux Enterprise with Xen. Microsoft’s Server Virtualization Validation Program provides customers with additional peace of mind when they run Windows as a guest in a validated environment such as SUSE Linux Enterprise.” “