FYI:
I’ve just read that you can actually suspend a VM that uses a boot camp partition. It’s just that the SUSPEND feature is disabled by default. You can enable it, BUT if you were to suspend a VM and then try and reboot in XP through boot camp you corrupt the install and have to reinstall.
Did you have to reactivate XP in BC and in VM more than once? Some people say they had to activate windows once in BC and once in VM and that was it, while others say that they have had to activate, and reactivate, and reactivate. I’ve also read that if you have office installed on the XP side then it also keeps requiring reactivation.