After you load Hyper-V on a Windows Server 2008 machine, the Hyper-V Manager mmc snap-in allows you to create and configure your virtual machines. Take a look at Figure A to see what Hyper-V can do.

Figure A

Click on the picture for more detail  of Hyper-V Manager

Figure B

Click on the picture for more detail  of  Installing Windows Vista in Hype-V virtual machine