If you attempt this, here's what to adhere to -
- Only configure 1 virtual processor
- Install SP4 (I had to use DoIso to get a downloaded SP4 inside to the VM)
- Install HyperV Integration services to the client VM
- Enable networking in the VM (assign ip, subnet, gateway & dns)
- Run Windows Update (to get everything post SP4).
Mounting the host drive also proved problematic before SP4 was applied, with the Windows 2000 guest causing the host server to die with a BSOD.