Well, I loaded up Fedora 12 in a virtual machine (VirtualBox) and took it for a spin. I must say, early impressions are:
The install went without a hitch ... I chose the following VM settings:
10G Disk, fixed size
32M RAM for video
I installed the OS and the VM's drivers for the guest system (in this case Fedora 12 was the guest, and my main system, running Fedora 11, was the host).
Next I added yum repositories for:
RPM Fusion (for non-free audio/video codecs)
Adobe Flash / Acrobat reader
It seems impossible, but, I would say the optimizations in Fedora 12 give the OS a snappier feel in the VM than Fedora 11 has running on a real machine.
Will write more later ... pressing on to updating the Acer Aspire One netbook ... so far ... so good.