Tried to install Qemu on OS X. Apparently it's unavailable. There is a link from the qemu site to a OS X port at free os zoo unfortunately that throws up a 404 error. Then I came across Q [kju], another port.
As with everything else on OS X installation is straightforward, I even managed to copy am image from my Desktop (which has Fedora Core 6) over to the mac book and import it as Q image. It booted up without a hitch. Unfortunately the screen resolution on my Mac Book is only 1260 X 800. That means the bottom half of the screen of the guest operating system is not accessible. To make matters worse, that means the only screen resolution available to the guest is 800x600
The guest seems to run a lot faster than on my old desktop but it doesn't appear to be blazing fast either. Which is a disappointment. It was a bigger disapointment to find that TUN/TAP is not available on OS X.
Q has it's own mechanism to share files between the guest and the host, unfortunately that didn't work for me either.