I wud opt with a pc emulator.
VmWare - It's Commercial, but it's good.
VirtualBox - It's OpenSource, not as many features as VmWare, but overall it gets the job done.

Another Option:
DosBox - Quite a number of ppl use this to use the old dos proggies. But some dun work.

With a PC Emulator, U will need the installation disk/cd/dvd to install the OS on the emulated PC. U can run different OS's within the Windows Environment. I have used them with MsDos/Linux/XP as a guest OS.