Here is how MS describes this product
“Microsoft Hyper-V Server 2008 provides a simplified, reliable, and optimized virtualization solution, enabling improved server utilization and reduced costs. Since Hyper-V Server is a dedicated stand-alone product, which contains only the Windows Hypervisor, Windows Server driver model and virtualization components, it provides a small footprint and minimal overhead. It easily plugs into customers’ existing IT environments, leveraging their existing patching, provisioning, management, support tools, processes, and skills.”
If you look at the feature comparision, Hyper-V server lacks some of the useful features such as HA Clustering, Quick Migration and Large memory support (>32GB). Apart from these, it lacks the usual graphical interface you would find in a full blown OS. There are pros and cons of this. For a SOHO customer, it is nearly impossible to get a hold of the command-line utilities to configure various aspects of the OS. MS provided a basic text menu driven way to configure some of the options but it still won’t let you configure any virtualization options.
HVConfig always opens up after the login, and presents the text menu interface. If you dig a bit, you will realize that this is actually a VBScript in the background. This script is located at %windir%\System32\<System Locale>\hvconfig.vbs.
On my test server, it was at c:\windows\system32\en-US\hvconfig.vbs
As this OS is based on Server Core, there is no real management capability on the local system. This is yet another drawback. You need to have another Windows Server 2008 or Windows Vista SP1 system to install Hyper-V management MMC to manage virtualization piece.
Overall, I feel that this is good prodcut for SMBs getting started with server consolidation or who do not need any fail-over / clustering capabilities or with a systems engineer who has the knowledge of Hyper-V. I will start posting some scripts you can use to manage various aspects of Hyper-V Server 2008 from a local console. Watch this space..!