QVM86
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QVM86 is a Linux kernel module to provide x86 virtualization capabilities for the qemu emulator. Virtualization allows "emulated" code to be run natively on the host cpu, using the CPU protection mechanisms to intercept and emulate privileged events. It is licensed under GNU GPLv2 license.
It is being developed as a drop-in replacement for the closed-source kQEMU.
QVM86 currently serves as a proving ground for skilled systems level engineers as the development is a bit behind the main competitor kqemu, so there is room for contributing improvements.
Some QVM86 related talk is going on at: http://qemu-forum.ipi.fi/viewforum.php?f=18