Recently, IBM held a briefing on virtualization and its impact on business operations. Instead of the usual vendor discussion about new and improved products, IBM vice president, Inna Kuznetsova and her team chose to present data based on IBM’s consulting engagements. This is a good idea because they clearly have a great deal of experience in these engagements. In this short note, we can't do justice to all of the material presented. However, we will hit the highlights.