With Windows 8, Hyper-V feature is now integrated in the client OS. Hyper-V is a flexible, robust and high performance client virtualization technology that allows you to run multiple operating systems simultaneously on your Windows 8 computer. Client Hyper-V provides the same virtualization capabilities as Hyper-V in Windows Server 2012.
I have created my own CRM 2011 “test lab” on my Lenovo W520 laptop with Hyper-V. This is how I did it:
Enable Hyper-V
Control Panel > Programs > Programs and Features > Turn Windows features on or off
Select both Hyper-V Management Tools and Hyper-V Platform.
If Hyper-V Platform is greyed out you will need to enable hardware virtualization in the Bios setup first.
When Hyper-V installation is finished you will need to restart your computer.
After system reboot, type Hyper-V in start screen to open Hyper-V Manager.
Create new Virtual Machine
Then I followed David Yack’s great video “Building a CRM 2011 Virtual Machine-Video Walkthrough” to install a all-in-one CRM 2011 virtual machine.
Upgrade integration services
I had to upgrade integration services within my VM, in the Networking tab it showed the status “Degraded” and I was not able to connect my VM to internet:
Go to Action > Insert Integration Services Setup Disk
Click Install Hyper-V Integration Services
Click OK
Click Yes to restart
Configure network
If you want internet connection on your VM, you need to configure an external virtual switch. Open Virtual Switch Manager in the Actions pane in Hyper-V Manager
Click New virtual network switch, choose External and then Create Virtual Switch
Type a name for your virtual switch.
Choose network card. I chose to connect the virtual switch to my wireless network card and share it with my host operating system, but you could choose to connect this to the wired network card if you have access to a wired network as well (don’t forget to plug in the cable then 
).
Click Apply
Click Yes on the warning message (you will lose your network connectivity for a short while)
Click OK
Now you need to add network adapter to your virtual machine.
Make sure your virtual machine is turned off.
Open Virtual Machine Settings
Click Add Hardware > Network Adapter
Click Add
Choose the Virtual switch you created and click Apply.
Start your virtual machine.
When the VM is up and running you will find the IP address assigned to the machine in the lowest section of Hyper-V Manager screen, click on the Networking tab
File copy to/from Virtual Machine
To be able to copy files to and from the VM, connect to the VM through Remote Desktop and add your local drive to the remote session.
Open Remote desktop (type remote desktop in the start screen). Click on Show Options and open Local Resources tab. Click on More in the Local devices and resources section. Select Drives and click OK.
Now you can connect to your VM by typing the VM’s IP address in Remote Desktop Connection. You should now be able to browse both internet and local files from your VM.