I remember seeing VMware for the first time and thinking that the PC world had finally entered the 1970s.
"PC" virtualization's getting closer to big iron virtualization, but likely will never quite get there.
Also -- I was running virtual machines on a 5150 PC when it was a big fast machine -- the UCSD P System ran a p-code virtual machine to run p-code binaries which would run equally well on an apple 2. In theory.