JUst as a FWIW, I'm running a Vista VM, and a Windows 7 VM at teh same time, under VBox, both with 1 GB RAM - the host is Win 7 running on a i3 370 with 8GB.
I could easily run another one or two VM's if I needed to, so long as none were using processor-intensive routines
It's a very pleasant change from a couple of weeks ago, when I only had 4GB, and was running into problems with disk-swapping all the time, if I had a few apps open.