It also opens up quite a few avenues that simply weren't possible before. For example:
Combined with the LinuxBIOS project, this allows a "bare" PC to be bootable while still allowing for Windows to be loaded; no longer either/or.
Dual booting is even easier as both OSes would be under the control of the hypervisor. With enough RAM and disk space, it would literally be two (or more) computers in one.
Sharing data between the OSes would no longer be dependent upon Linux support for NTFS -- or any other Windows or Mac filesystem -- but rather SMB/CIFS (read: Samba) access in both directions: Linux->Windows, Windows->Linux, Linux->OSX, and OSX->Linux.
Expanded use of kernel-built-in paravirtualization means that hardware drivers are handled at the hypervisor level while apps and config are at the guest level. Backup and restoration of servers cease to be hardware configuration-dependent. Having this is the vanilla kernel raises the possibility of a uniform backup utility for any and all flavors/distributions.
Syslog to the hypervisor by default so that even if a guest is compromised, the logs cannot be. (Or at least the difficulty in altering logs raises dramatically.)
That's off the top of my head. Any other bright ideas to share?
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