Is it possible to successfully backup and restore Windows 7 pro with the XP virtual disc installed with Acronis or similar programs? If so, are any special precautions required?
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Hello Donald and welcome to the forum.
Short answer is yes.
If you use Acronis or similar product to create an image of your disk then any such image should include all programs as well as VHDs that house your XP Virtual machine, assuming that the Virtual Machine is not located elsewhere on another disk or partition that you fail to include in the image.