Microsoft and Richard Davis have put together a great how-to document for creating a SQL Server 2012 VHD for development and experimental purposes.
How to Build a SQL Server 2012 Hyper-V Virtual Machine (KIWI build)
So if you are thinking of exploring the new SQL Server 2012 capabilities, including the new BI capabilities (PowerView! xVelocity!), head on to his site. It’s going to be a long process, but at least Richard has given us a comprehensive list of to-do’s.
The only thing I would deviate from in this list is creating separate VMs for the DC, SharePoint 2010, and potentially putting SQL Server onto its own VM too, and creating a private network between the 3 VMs. Will give you more of a “real world” production feel, although this will for sure tax out your host.
SQL Server BareMetal
Dandy Weyn also has a blog post, and this time taking a different approach. This is a great approach for people who often tear down, build up dev environments, especially for Hands On Labs. Dandy’s approach is using unattended scripts for all installations. All the software must follow a specific hierarchy, or you are welcome to change it as long as you update the corresponding scripts.