This is a pretty cool/cheap way to setup a home lab. Basically running ESX inside of Vmware Workstation. Using Open Filer as iSCSI storage.
http://knowledge.xtravirt.com/white-papers/esx-3x.html
I plan on following this once I upgrade my cpu's memory from 2 to 4 GB. It'll be a good way to test things out until I can afford to (and have physical space for) additional hardware.
I hope this helps me in my quest for VCP.
Heck, either way, it will be fun!