Hi.. I have hosted a XP machine using VPC. Now how can I share files or exchange data between the two ?
I tried moving both the Host and VM to same workgroup, but still didn't work :(

Check the IP address of the Virtual PC and the host PC. Is is typical for the Virtual PC to be put into a different network ID than the host. If they are all using the 192.168.x.x range of addresses, then change your Subnet Mask to a 16-bit set - 255.255.0.0 - for all of your NIC's. This will place your VPC and Host into the same network.