InnoTek have released their VirtualBox code under the GPL.
As far as I'm concerned this obsoletes qvm86, and I see no point continuing development. I recommend anyone interested in qvm86 use VirtualBox instead.
http://www.virtualbox.org/
For those without access to CVS, daily shapshots are available from
http://www.dad-answers.com/qemu
CVS now contains (very experimental) support for windows hosts, thanks to Filip Navara.
The CVS repository has now been populated.
Due to hardware failure my qvm86 machine is busy doing other stuff at teh monent. I hope to get cvs populated with the current code in the next few days.