Why would there have to be a license agreement to run Windows on Mac hardware?
There exists today a product called VirtualPC for Windows. It's just like VirtualPC for Macintosh, except it doesn't have to translate processor instructions--therefore it runs at full speed, natively on the processor for which Windows was designed anyway.
So you get virtual Windows environments, all running at full speed thanks to the native processor.
So with an Intel-based Macintosh, worst case is that I'd go to the store and buy a new VirtualPC for Macintosh that's designed for the Intel processors.
Suddenly I have virtual Windows environments running at--ta daaa--full speed, natively, on the processor for which Windows was designed.
I can think of other ways to handle it, and I could imagine Apple and Microsoft getting together to integrate Windows capability into the OS in a manner similar to how Classic is integrated. Just buy a copy of Windows, run the installer, and you're golden. Sure, that would require cooperation between MS and Apple, and no doubt licensing agreements behind the scenes. So? Is that so hard to imagine?
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