I've finally got this into full instructions for installing Windows 95 slipstreamed. 1. Insert the Windows 95 CD-ROM into the CD drive. 2. Reconfigure the BIOS to boot from the CD-ROM first. 3. Continue with what you would do in the normal setup procedure until Setup says "To continue, press ENTER. To quit Setup, press ESC.", at which point you should press the Esc key twice. 4. Repeatedly press F8 until you see the Microsoft Windows 95 Startup Menu, at which point you should choose option 4 5. Repeatedly press the Enter key until you are asked "x: [Enter=Y,Esc=N]?", then repeatedly press the Esc key. 6. Enter the command: xcopy X:\WIN95 C:\WIN95 7. When you are asked "Does WIN95 specify a file name or directory name on the target?", press D 8. Remove the Windows 95 CD-ROM, insert the FIX95CPU floppy disk or CD, press Ctrl+Alt+Delete, and if you inserted a floppy disk, reconfigure the BIOS to boot from the floppy disk first. 9. Again, repeatedly press F8 until you see the Microsoft Windows 95 Startup Menu, at which point you should choose option 4 10. Repeatedly press the Enter key until you are asked "CLS [Enter=Y,Esc=N]?", then repeatedly press the Esc key. 11. Enter these commands: copy A:\WINDOWS\*.* C:\WIN95 copy A:\WINDOWS\SYSTEM\*.* C:\WIN95 copy A:\WINDOWS\SYSTEM\VMM32\*.* C:\WIN95 copy A:\WINDOWS\SYSTEM\VMM32\POSTPACK\*.* C:\WIN95 copy A:\WINDOWS\SYSTEM\IOSUBSYS\*.* C:\WIN95 12. If you will install Windows 95A/B/C, also enter these commands: copy A:\WINDOWS\SYSTEM\IOSUBSYS\WIN95BC\*.* C:\WIN95 13. Remove the FIX95CPU floppy disk or CD, insert the Windows 95 CD-ROM, press Ctrl+Alt+Delete, and if the BIOS was configured to boot from the floppy disk first, reconfigure the BIOS to boot from the CD-ROM first. 14. Again, repeatedly press F8 until you see the Microsoft Windows 95 Startup Menu, at which point you should choose option 4 15. Again, repeatedly press the Enter key until you are asked "x: [Enter=Y,Esc=N]?", then repeatedly press the Esc key. 16. Enter these commands: extract /L C:\WIN95 C:\WIN95\PRECOPY2.CAB SETUPC.INF edit C:\WIN95\SETUPC.INF 17. Press Alt, go to Search->Replace..., and replcae wininit.ini, CombineVxDs,,"%22%\vfbackup.vxd=%11%\vmm32.vxd" with ; wininit.ini, CombineVxDs,,"%22%\vfbackup.vxd=%11%\vmm32.vxd" 18. Press Alt, go to Search->Find..., and find vfbackup.vxd,,,1 19. Press End, press Enter, and type in ntkern.vxd,,,1 20. Press Alt and go to File->Save 21. Press Alt and go to File->Exit 22. Enter these commands: C: cd WIN95 setup 23. Continue with what you would do in the normal setup procedure until Setup restarts your computer. 24. Return the BIOS settings to what they were before you followed step 2. 25. Repeatedly press F8 until you see the Microsoft Windows 95 Startup Menu, at which point you should choose option 6 26. Enter the command: edit C:\WINDOWS\SYSTEM.INI 27. Press Alt, go to Search->Find..., and find [386Enh] 28. Press End, press Enter, and type in MaxPhysPage=3B13B 29. Press Alt and go to File->Save 30. Press Alt and go to File->Exit 31. Press Ctrl+Alt+Delete I tested it in Windows Virtual PC with: * Host CPU: Intel Core i5-3210M * Virtual machine's RAM: 3,712MB (Windows Virtual PC's maximum) * Windows 95 Retail ("for PCs without Windows") - all optional components were installed It worked, but with a few caveats. Also, after installing Internet Explorer 5.5 SP2 (full install), Windows 95 started to work perfectly with MaxPhysPage=3B276 and lower values instead of only MaxPhysPage=3B13B and lower values, if an extra 1260KB of RAM would actually help.