I would like to add to Nicks and pch.'s post "Backup your Data"...there is also several programs out there..."Super Grub" I would download that and make a disc,it sometimes help to get back into your OS in case something goes wrong. And for backing up your MBR in Vista and to repair it..."EasyBCD"...download that into Vista
Never used Vmplayer...so I do not know to much about it, always dedicated a portion of my HD for a dual boot...now I have separate HD's for each install....
I have used "Wubi" in its infant stage...found I liked Ubuntu so much..did a dual boot...Ultimate Edition knocks the socks of the latter...
PS..Welcome to Ultimate Edition from me..