It was seriouly my question for long long time. And then I realised that it is not possible as of now. Yes, we can't Allocate Processor Resource To The Virtual PC. But, we can allocate more ram to the virtual PC, but not more cpu power.
There is no workaround till date. Windows 7 virtual machines are limited to using a single processor even if the physical hardware has more than one physical processor. It is by design.
It would be nice to allocate more processor power to a Virtual XP Machine to match the performance characteristics of a dual core PC running WinXP. Any chance that Microsoft will allow affinity settings? Software engineers still write lot of software in Windows XP using National Instruments LabVIEW.
I has not fully embraced the Windows 7 64 bit environment with their data acquisition hardware.
From my experience: Use VirtualBox or VMWare Player. Both are faster and better compared to VirtualPC.