Is it possible to have 64 bit guest OSes run in Virtual PC RC on Windows 7?
Solution 1:
It simply does not work. Use VMWare or VirtualBox.
Solution 2:
You will not get Virtual PC or Virtual Server from microsoft to run x64 Guest VMs. If it has to be Microsoft, install server 2008 x64 with hyper-v. Make sure you have a CPU that supports Intel-VT or AMD-V depending on brand. there is core 2 and cheap amd cpus out there with virtualization technology builtin for quite affordable prices...
Or do as Mr Don says and run VMware or VirtualBox.
VMware Server(runs on windows) is free tough registration is needed.
Solution 3:
Use VirtualBox. It's free and cross-platform. I've used it and it's an excellent program. VirtualPC is nice, but has quite a lot of limitations.