Cnet has a nice review on Vmware 2.03. If you are an IT admin who runs Linux on the desktop but needs to run the occasional windows app, Vmware might be for you.
The Good
My experience with Vmware has actually been quite good. I have had Vmware running Windows NT in full 1024×768 screen mode while running under Linux. Vmware actually runs in what I call a bios emulation mode. Meaning, when you actually start windows, you actually boot a complete virtual machine. Running Windows NT under Vmware I have actually cruised the web, played with my palm pilot, ran a contact manager and just about anything else in Vmware. Games however are out of the question.
The Bad
Running Vmware requires a lot of ram (at least 256MB) and a pretty heavy processor (I recommend an 800 Athlon or higher). It is expensive. VMware comes with a nice price tag as well so before getting all giddy about running out and getting a copy, check the price tag. Also, not all of your hardware is going to work under Vmware so double check the list!