Is it possible to run Snow Leopard (Server) inside VirtualBox on a Mac running Lion, as a means of continuing to run legacy PowerPC apps (Eudora, Quicken, et.al.) under Rosetta, even on new Macs (Lion only)?

The EULA seems to allow running the OS in a VM on Apple Mac hardware.

ADDED:

If so, what VirtualBox configuration and/or settings should one try?
How big a virtual HD should one use?

(My goal is to run authentic vintage apps, if possible, not work-alikes).