Office 2007 Sale virtual server2005 R2 and Windows

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I obtained some query with regards to MS virtual server2005 R2. 1. If i formulated an instance of Windows2003 in virtual server2005,Office 2007 Sale, if i screw up one thing. would it have an impact on or crash my host server? I have a colo Windows2003 R2 standard server nevertheless it also host a multitude of online pages that i will not want it to go down if i mess up the instance in vs2005. i trust it will not likely influence the host but i just need to confirm this. does everyone have problem with screw up guest OS taking down the host OS? two. how about liscense? do i need to buy an liscense of Windows2003 so that you can run in virtual server? 3. the amount RAM do you assume i need to assign to it? my colo server spec. is AMD64 dual core 4000+ w/4GB of RAM. Do you imagine 512mb is decent enough for the guest OS (windows2003). thank