Win95 doesn't like hardware virtualisation being enabled in a virtual machine; crashing on load with a

While initializing device IOS:
Windows protection error.  You need to restart your computer.

Seems the Core2Duo 2.66 is too fast for Win95 (4.00.950 b).  The following Compaq KB article was reproduced by Glen Ventura:

CUSTOMER ADVISORY: DB010327_CW01
REVISION: 2
Errors May Occur When Installing Windows 95 on PCs with Pentium III or
Pentium 4 Processor

NOTICE: The information in this document, including products and software
versions, is current as of the Release Date below. This document is subject
to change without notice.

RELEASE DATE: October 2001


DESCRIPTION
The following errors may occur when installing Microsoft Windows 95 (OSR1 or
OSR2) on a computer configured with an Intel Pentium III processor (1-GHz or
faster) or any Intel Pentium 4 processor:

Device IOS failed to initialize. Windows Protection Error. You must reboot
your computer.
Windows Protection Error. You must reboot your computer.
While initializing device IOS: Windows protection error.

SCOPE
This issue is not specific to Compaq products. It may occur on any computer
configured with an Intel Pentium III (1 GHz or faster) or any size Intel
Pentium 4 processor and Microsoft Windows 95 (OSR1 or OSR2).


RESOLUTION
This issue has been documented in Microsoft Knowledge Base Article Q192841
for AMD K6-2 processors but also applies to the Intel Pentium III (1-GHz or
faster) and Pentium 4 processors. Most users can follow the procedures
outlined in the Microsoft Knowledgebase article below (see Option 1 ) to
resolve the issue. However, there are instances in which Windows 95 systems
cannot be started in Safe Mode (required for the Knowledgebase article
procedures). In those instances, users can manually apply the patch using
the procedure outlined in Option 2, below.

Option 1: Useable if the system can be started in Safe Mode

http://support.microsoft.com/kb/q192841/

RESOLUTION
The AMD-K6-2 update has been revised to incorporate a newer version of
Vfbackup.vxd file. For information about this update, please see the
following article in the Microsoft Knowledge Base:

Q234259 Revision To AMD K6-2/350 Central Processing Unit Update
A supported fix that corrects this problem for Microsoft Windows 95 OEM
Service Release versions 2, 2.1, and 2.5 is now available from Microsoft,
but has not been fully regression tested and should be applied only to
computers experiencing this specific problem. If you are not severely
affected by this specific problem, Microsoft recommends that you use the
next release of Windows.

To resolve this problem immediately, visit the following Microsoft Web site:

http://www.microsoft.com/windows95/downloads
Scroll down to the Service Packs section and then click the link to download
the Windows 95 Update for AMD-K6-2/350.

NOTE: This fix does not correct the problem for the retail version of
Windows 95. In addition, versions of the Amdk6upd.exe update dated "09/18/98
11:00am" do not replace the Ntkern.vxd file in OSR 2.1 and OSR 2.5. To
determine the version of the Ntkern.vxd file installed on your computer,
right-click the Ntkern.vxd file in the Windows\System\Vmm32 folder, click
Properties, and then click the Version tab. If the version number is not
4.03.1213, you should obtain and install a new version of the update, as
described below. Note that the version of the original Ntkern.vxd file is
4.03.1212.

To install this update, follow these steps:

Download the Amdk6upd.exe file to a floppy disk. Download the file from
another computer, if necessary.

Restart your computer. When you see the "Starting Windows 95" message, press
the F8 key, and then choose Safe Mode from the Startup menu.

If your computer starts in Safe mode, skip to step 6. If you cannot start
Windows, continue with step 4.

Restart your computer. When you see the "Starting Windows 95" message, press
the F8 key, and then choose Command Prompt Only from the Startup menu.

At the c:\ prompt, type win /d:m to start Windows in Safe mode.

Insert the floppy disk containing the Amdk6upd.exe file you downloaded in
step 1, and then use Windows Explorer or My Computer to double-click the
file.

Follow the instructions on the screen to install the update.

The following file is available for download from the Microsoft Download
Center:

Download Amdk6upd.exe now
For additional information about how to download Microsoft Support files,
click the article number below to view the article in the Microsoft
Knowledge Base:

Q119591 How to Obtain Microsoft Support Files from Online Services
Microsoft used the most current virus detection software available on the
date of posting to scan this file for viruses. Once posted, the file is
housed on secure servers that prevent any unauthorized changes to the file.

STATUS
Microsoft has confirmed this to be a problem in Microsoft Windows 95 and OEM
Service Release versions 2, 2.1, and 2.5.

This issue is resolved in Microsoft Windows 98.

Last Reviewed: January 29, 2001
© 2001 Microsoft Corporation. All rights reserved. Terms of Use.

Option 2: For Windows 95 systems that cannot be started in Safe Mode.

Browse to the Microsoft Windows Update site
(http://www.microsoft.com/windows95/downloads) and download "Windows 95
Update for AMD-K6-2/350" (file name: AMDK6upd.exe ).

Extract the files from AMDK6upd.exe to a bootable floppy disk by executing
'AMDK6upd.exe /T:a:\ /C'. (Note: The switches are documented by
'AMDK6upd.exe /?').

Start Windows 95 installation following the normal procedure.

When the error occurs (usually on the first boot into Windows 95), or the
computer fails to start Windows 95, boot machine using the bootable floppy
created in Step 2.

Manually copy the updated driver files on the diskette to their proper
locations as indicated below:

NOTE
The Copy to This Location paths below assume that Windows 95 is being
installed in the default location (logical drive C). If installing Windows
95 on a different logical drive, modify the paths accordingly.

File Name Copy to This Location
scsiport.pdr C:\Windows\System\IOSubsys
disktsd.vxd C:\Windows\System\IOSubsys
esdi_506.pdr C:\Windows\System\IOSubsys
hsflop.pdr C:\Windows\System\IOSubsys
cdfs.vxd C:\Windows\System\IOSubsys
vfbackup.vxd C:\Windows\System\VMM32
ios.vxd C:\Windows\System\VMM32
int13.vxd C:\Windows\System\VMM32
NOTE: The following file is needed only if the version of Windows 95 is
OSR2.1 or OSR2.5:
ntkern.vxd C:\Windows\System\VMM32

Remove the floppy disk and restart the system.

If prompted, select Normal Startup of Windows 95.

Complete Windows 95 installation procedure.

After Windows 95 is fully installed and running, execute the AMDK6upd.exe
without any command switches to register the update.

OPERATING SYSTEMS AFFECTED: Microsoft Windows 95 OSR1, Microsoft Windows 95
OSR2

SUBSYSTEMS AFFECTED: Third Party Hardware

THIRD PARTY PRODUCTS AFFECTED: Intel Pentium 4 processor