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I Run a setup Much like that, but with a twist, I use all of them on the same machine! Multiple Platforms Same Machine. I can do it all on my Mighty powerful 400 MHZ Powerbook G3 with lots of ram. I run Linux (used to before Jaguar, still have it on my drive though, using it when I want to use the Gimp 1.3 (unstable) at full speed) I also have Windoze 98 installed with Virtual PC, I have Mac OS X jaguar Installed and I also have OS 9 installed. So I think that 4 OS's on the same network, let alone same machine, is entirely possible. On my network at home I also have two macs, One running Mac OS 8.6 the other running OS 9.1 and one PC running Windoze XP.
But to comment on other comments (I guess), My mac takes everything in stride, running every program that I throw at it and every peripheral (I don't Throw printers at my macs though :-) ) While My Win XP machine Sucks, I have reinstalled Windoze 36 times in the past 6 months. Everytime before the 36 it kept booting into a blue screen GRR :-< .
No More Windows For Me, I learned My lesson. The only reason I run it in VPC is because I have 3 or 4 programs that I Don't want to pay the upgrade price for :-<