Take a look
Think before you Sync Since you may Sink
The More Tweaks you have - Less Memory is left
I don't think you can VNC into a machine that is booting up, so unless im dumb this is running natively and so can windows 7.
(sorry I cant post a real link because this forum won't let me)
As to Microsoft and the ARM. If they do bring out an ARM version, it will (rightly) be designed to be used on tablets and smartphones and so won't be XP or 7. It'll be something different. So the answer to the OP question is still "no". Not at the current time. And probably not ever.