Tell me about Microsoft Virtual PC

I found this item in a list of free software in an online magazine. I have always wanted to run DOS (MS or Dr) and perhaps some Windows 3.1 programs on my machine which runs both 98 SE and XP Pro.

Have any of you had experience with this product? Can I use it for a DOS/Win 3.1 installation?

Thanks. Because I totally missed out on the DOS era I have always wanted to have access to it so that I could at least play around with it.