Dual Box Setup Ideas

I am considering looking into getting a second account for FFXI to use for dual-boxing and kinda looking into some dual boxing setups. Thought I would list some of the options I am looking into and ask for inputs from you guys, especially people who dual box already.

Each setup will include my PC I currently play on as one of the two stations.

Setup 1 - PC/Xbox360, This setup would be pretty cost efficient since I already have a 360 to play on. My only "meh" about this setup is that I have a 47 inch HDTV and I know some games look like total assbarf on it because of the large resolution. Does anyone have a TV this large they play on, how does it look for FFXI?

Setup 2 - Two PC's. This would basically just be a simple setup with 2 PCs, costs would include the new PC and a controller. Pretty straightforward.

Setup 3 - (I don't know if this would even work) Running a virtual machine and paying FFXI on the same computer across 2 monitors. Cost would be buying a 2nd monitor. I don't know if/how well this would even work considering my primary OS is Windows Vista (lol). We started learning about Virtual Machines in one of my classes and that's what made me think of this idea. Assuming things like the VM getting it's own IP address and enough resources allocated to run FFXI I think it would be possible? Has anyone ever tried this?

Thanks for your time guys and any inputs!