I don't mean for this question to be a flame bait but I'll be using Microsoft and their win32 API as a example of a legacy API.

Now what I am wondering here is Microsoft is spending a lots of their money and energy in maintaining their legacy API, including all of the "glitches/bugs/workaround" that are needed to keep the API functioning the same. Now I'm aware that in Windows 7 they are providing a way for the customer to run their application in a "Windows XP" VM which would be one such way for them to start cleaning up their win32 API because they could then push all of the application into the "Windows XP" VM.

So now what I am wondering is, is it possible to virtualization a legacy API in such way that an customer/program can still access and use it, yet at the same time be able to take advantage of the newer version/API? Because as far as I understand it, if the application is ran in the "Windows XP" VM, it won't be able to access any of the newer API/feature of Windows 7.