I found solution on page 126 of the December 2010 issue of PC World
I got the network to work in Virtual select settings for adapter select adapter 1 then select your adapter. then go to start run type netsetup click yes you want to continue in resulting wizard answer questions as if your system was a stand alone XP computer
1. make sure computer name you enter differs the one you use for the same PC's normal W7 environment. use same workgroup name that the other network PC's use. turn on file and printer sharing.
if the PC still can't access the network, you most likely have other network problems.
It worked for me, I have my virtual machine see's my primary w7 machine on which I am running Virtual, and sees my two (2) Vista machines
Excellent and thanks Super Sarge. Haven't messed with it for a while but I believe I used my second network interface card and dedicated it for the Virtual XP machine and setup the IP addresses manually so I don't recall having an issue. But I will certainly keep your solution in mind when I get back to it.