MacBidouille claims to have seen a demo of Virtual PC 7.0 for the Mac.
The software was apparently demoed for French resellers by Apple and Microsoft representatives.
New features include: Better support of Peripherals (especially USB), notably faster than previous version, should support dual processor as well as G5 based systems. The most notable new feature however is native support for graphic cards. This will reportedly allow video operations to be handled natively rather than through emulation.