I want to virtualize my workstation (Tier 1), Looking for Bare Metal Hypervisor for consumer grade components

I find myself in this similar bind at least once a year. The bind whereby I'm either upgrading a motherboard, or an OS hard drive. It drives me crazy to have to reinstall Windows, Visual Studio, all my addins, reconfigure my settings etc... every single time. I have a layout and I like and I want to stick with it.

My question is...

Is there a Bare Metal Hypervisor on the market that will enable me to virtualize my consumer grade workstation? I really want to avoid Host/Client virtualization. Bare Metal is definitely a better way to go for my needs.

Is this a good approach, or am I going to suffer some other undesirable side effects by doing this?

Clarification

My machine has very limited purposes. My primary use is Visual Studio 2010 Professional where I develop ASP.NET MVC Web Applications. The second piece of software that I use (that's system intensive) is Photoshop CS3. Beyond that, my applications are limited to Outlook, Internet Explorer, Firefox, Opera, Chrome, LinqPad, and various other (small) apps.

Beyond this, I'm considering working on a node.js project and might run ubuntu on the same hypervisor if possible.

System Specs:
Gigabyte Motherboard
Intel i7 920
12 GB Ram
basic 500GB 7200RPM HDD for OS
4 VelociRaptors in Raid 1/0 for build disk
Dual GTS250 (512MB) Graphics cards (non SLI) for quad monitors

On a side note

I also wouldn't be opposed to an alternative suggestion if the limitations are too great. I could install the ESXi (or Zen Server) on my box, and build a separate "thin client" to RDP into the virtual machine. It appears as though RDP supports dual monitors.

Edit (Dec 9, 2011)

It's been nearly a year since I first asked this question. Since then, there have been a lot of great strides in Hypervisor technology... AND MokaFive is now released for corporate use.

I'd love to dig into this question a little more and find out if there is a solid BareMetal Hypervisor for workstations running consumer grade components (IE: not Dell, HP, Lenovo, Etc).

It's not a good idea to use a Type 1 hypervisor like VMware ESX/ESXi, Hyper-V, Xen, etc, for a desktop workstation. They are designed for server use, and you will not be able to use USB or Firewire ports or use hardware accelerated 3D graphics.

You would be better off using a hosted virtualisation program. I think VMware Workstation would be ideal for your use, until MokaFive becomes available.

EDIT: There is a trial of MokaFive available on the website.

New Information

You should have a look at Citrix XenClient, which is a component of the XenDesktop suite, but is also available standalone for free, for up to ten clients.

Unfortunately, it seems to be only compatible with certain OEM brands of laptops and workstations (where the hardware is known).

I've not got around to trying it out myself yet, but I plan to use it soon.

Best Option: Hyper-V (free)

I have only just now noticed that you are open to using a separate thin client and server setup. This will allow you to use a Type 1 hypervisor intended for servers, for workstation use through RDP. The VMware ESXi hardware compatibility list is quite restrictive, while Hyper-V can run on just about anything. Hyper-V also has a very big advantage for what you want to do - RemoteFX. This will allow you to use hardware accelerated 3D graphics cards on your Hyper-V host (your graphics cards are supported!) through RDP. I think this will work very well for you. You may want to investigate if a gigabit switch and dual-gigabit NIC teaming will give you even better performance with this setup with powerful graphics cards.

Latest Update

Windows 8 includes a bare metal hypervisor which it runs on top of - Client Hyper-V.

At least you can try. Create dual boot with some linux OS as a host and install your Windows as a guest with VirtualBox.

Linux will provide you better HDD performance due better disk caching.

If you like the setup, just keep backing up the virtual's machine image, you even can create 2 instances for Windows - one for work, one for experiments (not running simultaneously due licenses)

If you have big files - i.e. your multimedia files, you can keep them outside guest - using VirtualBox shared folders to keep VM images not too big

you also will love to browse i-net and check emails form outside Linux, use virtual desktops, use different Window managers (KDE, Gnome, LXDE, XFCE), run some servers (Apache, MySQL, SVN, Git, Wiki) also copy Windows image back and forth betweeen different PCs

Even you can move the entire HDD to another machine without issue.

If partitions in fstab are mounted by ID instead of device numbers, you can boot the disk from another machine with eSATA port without open the case with your entire environment

You need to be aware of the limitations of using a virtual machine such as the rubbishy graphics card but if you are happy with these limitations then you may as well try it.

If you get the right version of the hypervisor it won't cost you any money.

I'd definitely use a hypervisor rather than a full blown operating system with VMWare Player or similar if I wanted to have everything in the virtual machine. VMWare Player (or Virtualbox or... ) is good where you are not spending a lot of time in the virtual machine and is rather wasteful because you have two full operating systems running.

You can get the free verson from here; hit the main link in the body for 64 bit hardware, the link at the bottom of the page for the previous version if you have 32 bit hardware.

I am not aware of VMWare ESXi, so I am not sure if this question of mine is in context here, but it explains my experience trying to use a virtualised OS : How does it hurt to use Linux (Ubuntu) as a guest OS for all my tasks?. Later I added a 'Note' to my post, explaining how I hit a wall eventually. Now I dual-boot.

(Maybe I will have a something to learn from this thread.)

ESXi would work and make your regular hardware rebuilds much easier.

However, you asked what undesirable effects there could be. My question to you is what do you use your Windows system for? Unless something has changed, VMs are not known for blazing video performance. If you like to play high-end games you'll have to scale the graphics way down, if they run at all.