I've been away in Paris and missed the official announcement from Apple about Boot Camp:
More and more people are buying and loving Macs. To make this choice simply irresistible, Apple will include technology in the next major release of Mac OS X, Leopard, that lets you install and run the Windows XP operating system on your Mac. Called Boot Camp (for now), you can download a public beta today.
Over at Daring Fireball, an excellent essay on Boot Camp by John Gruber:
Right now, it’s a dual-boot situation, which is obviously less than ideal. It’s not hard to imagine, though, that the version of Boot Camp Apple is building into the upcoming Mac OS X 10.5 (a.k.a. Leopard) will be a concurrent virtualization tool — i.e. that Windows (and perhaps any other PC OS) could be hosted within a running Mac OS X session, obviating the rather annoying need to reboot to switch between OSes.
Do I know this? No. But it certainly seems like the obvious direction for Boot Camp to take, and it’s certainly technically possible. E.g. earlier today, their hand presumably forced by Apple’s release of Boot Camp yesterday, Parallels released a public beta of their $50 Workstation virtualization system for Intel-based Macs. It’s like Virtual PC except, because there’s no need to translate between the PowerPC and x86 instruction sets, it executes the hosted virtual system at native speed. I think it’s a safe bet that Apple plans to include something like this with Mac OS X 10.5, for free.
And this points to the rather delicious conclusion that Apple is casting Windows, including Vista, as the new Classic. Boot Camp portends Apple’s intention to become a Windows-only PC manufacturer no more than Classic served as a hedge against Apple’s commitment to Mac OS X — that is, not at all. … This is a move of supreme confidence — Apple relishes the comparison between Mac OS X and Windows XP, and Microsoft has shown enough of Vista via its widely-available beta seeds that Apple quite obviously isn’t afraid of that comparison, either.

