I have KVM virtualization working on my workstation now. Pretty neat, actually. Tomorrow, I'll try to have multiple machines running simultaneously.
There are several KVM virtualization guides out there but the most useful one that I found was Chapter 17 of the Ubuntu documentation. The info there was more succinct than the others I've read.
Take note of the crucial step involving the
dhcdbdprogram if you're setting up virtualization on Ubuntu Desktop. If not disabled, you could lose your connection to the Internet when you reboot. This happens because of a misplaced route that gets set up. I don't know exactly why just yet.
More pictures and details to follow.