While VMWare does not plan to support x86 emulation on M1 Macs and Parallels support staff only offers misdirection when asked, thanks to UTM & QEMU you can emulate x86/x64 Windows versions like XP and 7 on Apple silicon right now:
The result is surprisingly performant: MP4 | GIF
Windows XP Professional can support up to two processors regardless of the number of cores on the processor. Windows XP Home supports one processor.
Verify number of processors and cores:
C:\>wmic computersystem get numberofprocessors & wmic cpu get numberofcores
NumberOfProcessors
1
NumberOfCores
4
Apple Silicon M1: How to run x86 and ARM Virtual Machines on it?
Virtualizing OpenCore and x86 macOS on Apple Silicon (and even iOS!)
Virtualizing Linux, macOS, and Windows ARM64 versions on an M1 Mac
/mac | May 22, 2021