I'm running SBS 2011 Standard as a guest on my Windows 8 Pro (with VMWare Workstation 9, Class 2) now with 17GB of RAM. However, I would recommend a class 1 HyperVisor (Hyper V/ESXi) for a production server. My system is usually on 24/7/365. People often recommend against class 2 since it wastes resources and increases the potential attack vectors.