That's call application virtualization, and yes, it exists.
http://www.microsoft.com/systemcente...hoverview.mspx
--
Bob Comer
"RB" <NoMail@NoSpam> wrote in message
news:#...
> Is there any software available that virtualizes on kernel level (no guest
> only the one and only host OS) so as to run the same kernel but have a
> sort of virtual accounts or virtual setups keep separate virtual
> registries?
> (which otherwise user accts would suffice)
>