Just installed the 64bit desktop live CD and added KVM/libvirt/VirtManager etc, and installing the 32bit beta inside a VM - Ubuntu inside Ubuntu It's quite fast actually.... Will try installing Windows XP or Server 2008 trial later too...

There are still annoyances, like the Login Window config applet does not remember my setting of Human List and keeps reverting to the blue circles login theme!

One worry I have about Ubuntu is that they release an RC which is still in Beta quality and they give too short time until the final release, not enough time to take in inputs and fix any last-minute bugs before release... I wonder how stable/polished this LTS release will be...

edit: KVM and VirtManager are for sure beta quality, probably better to just install VMware or VirtualBox since they are more polished and robust...