You coud set your Documents folder on a Shared Folder with Mac OS and only keep your system and program files on the VM image. That would alleviate some of the bulk.
Before I went Mac I did that with Windows. I kept all my documents on a seperate partition. That way if anything ever happened to the Windows disk, my documents were safe and I made an image of the Windows partition with all programs installed. If anything every went wrong (viruses, or disk error, etc...) I could bypass all the re-install time by just restoring the image. And no need to move my documents since they were safe in their locale already.
Just point your My Documents folder to a Shared Folder on Mac OS. Of course, if you're using a Bootcamp partition, that won't work, unless you never use Bootcamp natively thence forth.
Last edited: Dec 20, 2006