Microsoft put out a public beta of its Hyper-V server virtualization tool on Thursday, well ahead of its original scheduled arrival date of Q1 of 2008.

Hyper-V will be a feature of some versions of the upcoming Windows Server 2008.

Microsoft is making the Hyper-V beta available with Windows Server 2008 RC1 Enterprise for download at http://www.microsoft.com/ws08eval.

The final version of Hyper-V is set for release within six months of the RTM of Windows Server 2008.

Virtualization lets companies save on hardware costs by running multiple operating systems and applications on a single machine and is a key enabler of server consolidation.

Microsoft’s Hyper-V tool will compete with products from virtualization leader VMware.