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EDIT: Everything I have read here on the forum suggests that MacOS is pig slow in a virtual enviroment.
That is truly correct. Mac OS X is VERY slow on a virtual environment. The system specs says that you have 4GB DDR3 of RAM. If I was you, I'd put about at least 3GB. Type 3096MB of RAM when configuring it. Leave 1GB RAM for Windows.
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I am downloading VirtualBox in plan to run Mac OS X 10.6 on it. Just wondering if you can in fact connect to the internet within VirtualBox ?
You should able to connect to Internet with VirtualBox. Just make sure it's configured as NAT.