A. Yes, Windows Server 2008 R2 SP1 Hyper-V will allow memory to by dynamically added and reclaimed from guest OSs. Once the NDA lifts, I'll post a detailed explanation of how it works—it's going to be great.
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Some say performance tuning SQL Server is an art; others say it’s a science. It’s a bit of both of those, but also more. Many factors determine how well (or poor) SQL Server will perform, and it starts well before any application database is installed into an instance.