No,
VPC for Windows carries over your x86 CPU and VPC for Mac emulates one,
neither have the ability to run MacOS, and even if they did, Mac licensing
probably wouldn't make it legally possible

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--Jonathan Maltz [Microsoft MVP - Windows Server, Virtual PC]
http://www.visualwin.com - A Windows Server 2003 visual, step-by-step
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> Does Virtual PC 2004 allow you to use Mac OS, as for
> instance MS Virtual PC for Mac ver 6.1 allows you to use
> Windows base software, can the same be said