I have SBS2011 installation on two three different platforms:
(1) Standalone hardware/Server box
(2) As a VM in ESXi 5.5 Server
(3) As a VM in Windows Server 2012 Hyper-V
I would like to get expert's opinion as to what you would prefer and the reason(s) why.
Here is my take:
(1) As a Standalone server: Simple management. Can run Windows Server Backup to external 2TB USB Hard Drive. Restoring the entire backup from the backup device was NOT as simple as I thought.
(2) As a VM in VMware: Can't run Windows Server Backup directly. You may using USB pass thru, but the speed was incredibly slow, so it is not practical. However when one of the VMs kept starting and resulting in "Blue Screen of Death", I shutdown the VM and restored the VM from the backup device. It was extremely simple and easy.