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#11
Please be aware that XP mode, which is what the OP would need to get XP with Virtual PC, is only supported under Windows 7 Enterprise, Professional, and Ultimate...
Source: Windows Virtual PC: RequirementsNote: Windows XP Mode is only available in Windows 7 Enterprise, Windows 7 Professional, and Windows 7 Ultimate.
According to the OP's specs, he has Premium.
Yes, Virtual PC runs on all (or most) iterations of Windows 7, but Virtual PC with XP Mode only runs on noted systems.