From the official announcement page:
VMware Virtualization for Mac Beta Program
What is VMware's virtualization product for Mac?
The new VMware desktop product for the Mac, codenamed Fusion, allows Intel-based Macs to run x86 operating systems, such as Windows, Linux, NetWare and Solaris, in virtual machines at the same time as Mac OS X. It is built on VMware's rock-solid and advanced desktop virtualization platform that is used by over four million users today.
With Fusion, you can run traditional PC applications on your Mac: if you need to run PC applications, you can now do so by leveraging the power of virtual machine technology.
I still haven't a MacIntel ( :( ) but I'm so happy about it: I saw Parallels Desktop in action and... I was not really enthusiast about it. I know VMWare and its quality level: the bigger and the stronger player in the battle for virtuallization it's on its way.
Other details about Fusion (I suspect it will not be the final name of this product ;) ), on <!--more-->
Fusion allows you to:
* Create and run a wide variety of 32- and 64-bit x86 operating systems on OS X without rebooting. You can simultaneously run PC applications next to your OS X applications. * Leverage Virtual SMP capabilities to gain additional performance improvements. On any Mac with dual-core processors, you can assign multiple CPUs to your virtual machine to gain additional performance for CPU-intensive workloads. * Access physical devices from the virtual machine: read and burn CDs and DVDs, and use USB 2.0 devices like video cameras, iPods, printers, and disks at full speed. Even devices that do not have drivers for OS X will work in a virtual machine. * Drag and drop files and folders between OS X and virtual machines to easily share data between the two environments. * Leverage the cross-compatibility of VMware virtual machines. VMware virtual machines created with existing VMware products are all cross compatible, including virtual machines created by VMware Workstation, VMware Player, VMware Server and VMware Infrastructure 3. * Run any of the 360 virtual appliances available from the Virtual Appliance Marketplace (http://vam.vmware.com).