Can't really answer your questions, but I've had a similar situation in the 
other direction. In order to use Vista on my Mac I had to buy the Ultimate 
version. At that time only the Ultimate version came with the permission to use 
on virtual machines. So, it's the same deal as with using OSX on virtual 
machine, except that Apple don't have different versions of the OS, where one 
version comes with permission to use on virtual machines and another doesn't.

The price of Windows Vista Ultimate was higher than the cost of many PC 
systems, that came bundled with the Home edition.

So, the concept of there being a license that states whether you're allowed to 
use it on virtual machines isn't Apple specific, but at least there's an 
expensive solution for doing the same with Windows.
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