Been tinkering around with a new SharePoint installation today on a single machine using Virtual PC.
Came across two very useful guides which refreshed my memory:
First one is more of a how-to guide on single virtual machine installs:
Second solved an annoying 401 error after setting it all up involving a loopback issue that needs disabling in the registry:
Hope you find them as useful as I did. If nothing else, this post will jog my memory for next time..