This document describes how to set up Xen on Fedora 7. Xen enables the paravirtualization of your hardware for its virtual machines if you have a CPU with Vanderpool (Intel) or Pacifica (AMD) technology. The paravirtualization provides high performance to your virtual machines. Fedora's virt-manager provides an easy to use GUI for setting up and managing your virtual machines. It does not have the extensive features like VMware Server, but the basics are in place.
See it all here.