no it doesn't work (i believe).. i previously tried microsoft virtual pc and vmware virtual server with no joy.. i don't think it can ever work in this way because i have since learned that part of the SF3 protection in TocaRD2 is to slow the hard disc and obviously when it sees the cd (virtualdrive/virtualnetwork) also slow ,it knows it a fake ... when there is a real network ,SF3 can't control the hard drive on a real networked computer ,hence why it works that way but never the virtual way .. 
I looked up "gormless" in the dictionary, it said "without gorm" .... so i looked up "gorm" but it wasn't there ????