For those of you running Windows 7 but without hardware virtualization support (either wrong CPU or no option to enable in BIOS), you can now run Windows XP mode, as they’ve removed that requirement.
Checkout the download here. I was prompted to download three files, the main 400+ MB file and then two updates that needed to be run. It was a little confusing because there was no indication that the hardware requirement was removed (and other places on the site still say that it is required), but I’ve been able to set it up successfully and run it.