On my VMware servers, It was a requirement to have VT in the Bios enabled to run 64 bit VM's. Now as far as running 2008 and then installing 64bit VM's on it hypervisor; I cannot say. This is something I will need to research further.
you can install VMWare ESX, then you would only be able to do 32Bit VM's. If it does not have the Intel Virtualization Technology in the Bios settings for the CPU, then VMWare will not allow 64bit VM's.
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