I used to have a working copy of VirtualPC. With OS upgrades, it quit working and I can't justify the price of the software - or the Windows OS - just to run a couple of programs. I've been unable to get anything other than FreeDOS to install onto Bochs (
http://bochs.sourceforge.net ), and it would still require a licensed copy of Windows. VMware is not available for the Mac and, again, would require a licensed copy of Windows. The WINE project won't work on a Mac because it doesn't emulate the hardware and there are endianness issues involved so that would only work under a PC OS - and, I've not been successful at running anything that requires a proper install procedure in a WINE environment.
The Mono and DotGNU projects purport to be able to run .NET software, possibly on a Mac, but I have my doubts. How are they going to work around endianness of the differing hardware?
It would just be a better solution to recode in Java, Python, Ruby or "portable" C/Pascal/whatever using third party graphics and windowing API kits, such as Qt or wxWindows. If I could get ever get a *&^% "Hello World" program to compile on a first try, I might actually make some attempt at coding a useful utility on my own...