Free alternative to VirtualPC?

Is there a decent, free alternative to Microsoft's Virtual PC software available? I'm trying to get some old educational software written in Director to run on XP, and it only works correctly in Windows 95/98. Compatibility mode doesn't help it, and it just throws up error messages and freezes (I believe the problem is that the software is expecting Quicktime 2, which I have installed but with no difference to the errors).

>>2
It depends on what you're trying to run; I use DVD Decrypter and Flash Player 6 in a recent WINE, and both work great. It's certainly come a long way from when I first started playing with it in 1995-1996 (when it could barely even run Win16 programs)...

As for PC emulators, another one to try (if you don't feel like shelling out the ridiculous amount of cash for VMware, anyway) is QEMU. It's about the same speed as Virtual PC on the same hardware, though it's not quite as nice to work with.