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PC Perspective posted a tutorial about installing Windows 8 Consumer Preview in a VirtualBox virtual machine



The question many consumers and enthusiasts are likely asking; however, is what to do with the MS provided ISO, and what the safest and easiest method for testing the beta operating system is. One appropriate answer, and the method covered in this guide, is to use a virtual machine program to test the Windows 8 Consumer Preview inside a VM without needing to muck with or worry about effecting your existing system or settings.

The new virtual machine is all ready to use and powered by Windows 8. Depending on your hardware and how much memory and processing power you were able to allocate, the experience may nor many not be the smoothest. Nevertheless, it should give you a good idea of what the OS looks like and how it operates. Then, using that information, if you think the new beta operating system is for you, you can start planning a bare metal install on some physical hardware.
  Installing Windows 8 Consumer Preview In A VirtualBox Virtual Machine