I've written an in-depth tutorial for developers and admins looking to create a standalone virtualized development network. This setup is useful for hosting development and test versions of websites, testing new operating system versions without affecting production systems, and testing new web applications and network topologies. It's especially useful for those just starting out with various server operating systems, as it gives you a chance to learn the basics of system administration without risking data loss or security issues. It is rather lengthy, but includes detailed instructions for going from a bare machine to a complete virtualization setup with a virtual machine running a web hosting control panel. The tutorial uses Ubuntu Server 8.04 LTS, VMware Server 2.0.1, Debian Linux 5 (Lenny), and ISPConfig 2.2. I hope the community finds this information useful: How To Build a Linux VPS Host in 24 Hours
Are you going to write more with different configurations? Like HyperVM etc? Just a thought Seems great though!
Building a HyperVM VPS is easy, you need CentOS 5.2 and SSH access and you're good to go. Check this -> http://lxlabs.com/software/hypervm/install/