…or at least IT managers that have implemented the technology in their datacenters seem to think so. This TechRepublic blog post offers us these encouraging words:

Even in these fragile economic times, CIOs are investing in virtualization. A 2008 survey from CIO Research indicates that 85% of CIOs surveyed have implemented virtualization in the data center, and 81% believe that their virtualization efforts have resulted in significant savings. Apart from the savings, and the corporate responsibility benefits from a Greener IT profile, CIOs cite other important benefits, which include simplified maintenance, improved disaster recovery plans, and the ability to provision systems and new applications more quickly.

Some of the benefits cited include fewer hardware purchases; an up to 60 percent reduction in server footprint (!); and reduced server management.

The downsides: “Server huggers” (one app, one box traditionalists), software licensing, and a state of nebulous app support on virtual platforms.

Read the rest of the article for more good insights.