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I have old products that date back several years that I have to continue to support. These are built using the tools with the CARM compiler. We're also developing new products with newer processors, thus have to install the newer tools to get the support for the new processors. This installs the Realview compiler. Therefore, I need both toolsets installed. Can this be done? I'm wary of trying it, since I can't afford to wipe out my older tools.
You can always use virtual machines to experiment with (almost) whatever you want. VirtualBox is a good example.
What happens with the license file when you run VirtualBox? VMWare seems transparent, so the key file for the host machine seems to work well for the virtual machines, allowing each virtual machine to have its own installation as long as the host machine has a valid key.
I'm actually in the process of setting up another Win XP Pro install in VM workstation in case I can't run the two concurrently. Good question about the license file, though. I thought the VM was pretty much isolated, so for license purposes it would appear as an independent machine.