howto virutalize existing XP machine in 7 Pro

What's a good way, (and why) to move a physical XP 32 Pro machine to a VM I can run occationally on my W7 64bit Pro?  Free is better than a paid tool.  Can I use the XP Mode that 7 Pro comes with? (not that I need to). Perhaps in conjunction with this tool? http://technet.microsoft.com/en-us/sysinternals/ee656415
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pcrequestAsked:
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larry urbanDevOps EngineerCommented:
I would install VMware player on the Win7 box and download the VMware standalone converter. (Both free) Convert the XP box physical to virtual (P2V) and use the VMware player on the WIN7 box to  run it.
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Lee W, MVPTechnology and Business Process AdvisorCommented:
If XP came with the computer and you don't have SA (if you ask what SA is, you don't have it), then you cannot virtualize your existing XP install into a VM.  If you can, then there is a Microsoft solution that will actually do this for you (some work required) but it is supported... unfortunately, while I saw it presented twice last month, I cannot remember what the process/tool is called!
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Lee W, MVPTechnology and Business Process AdvisorCommented:
(It does use Disk2VHD, but I believe it may be a solution accelerator and to be supported, its procedure must be followed - it's not as simple as using Disk2VHD).  If you don't care if it's supported, then you should be able to use Disk2VHD (I see no need for VMWare).
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pcrequestAuthor Commented:
I used Disk2VHD and ran the machine on my server 2008 R2 machine.  I was prompted to call in and reactivate.  I called in, explained what I was doing, and got it activated.  seems to be running like a champ now.
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pcrequestAuthor Commented:
MS didn't require me to have SA.
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