Hyperviser - Physical Disks and Compatibility


Ok i've not used a Hyperviser before and before I go any further with it I was hoping someone could help me out with a couple of queries that I cant find much information on.

The Setup:
I have an old server lazing around its a AMD Athlon x64 3600+ with 1GB of RAM.
It is currently running Windows Server 2008 however I need some support that it can't offer. Windows 7 can do what I want so heres the plan.

I want to install Windows 7 on VMWare Hyperviser ESXi but I want to be able to have:
1 - Virtual Disk with Windows 7 on it and 1 with Ubuntu server CLI only.
Allow Windows 7 direct access to 1 or more of the physical drives in the server seamlessly. (Not Network Shares) (Note: I do not need Ubuntu to access any physical drives)
I also want to have Windows 7 access a USB Drive for use with Readyboost

I know that ReadyBoost will not work in a virtual machine with a Host OS and neither will HDD direct access. Thats why I'm hoping VMWares hyperviser can do it?

Is this possible?

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