virtualbox.org

I created a live bootable DVD version of Puppylinux that I want to run on a Win 7 64 bit pc, but I can only run it if I reboot the pc from the dvd drive. How do I run Puppylinux from the DVD drive without having to reboot or restart the pc. What would be the easiest work around. It seems that the only way I can run it alongside or at the same time Win 7 64 is running is to set it up as a Virtual OS? Can Virtualbox be set up to run as a bootable live DVD containing Puppylinux or some other linux distro without installing anything on the host computer hard drive?

Yes. Create a new VM, assign the Puppy ISO to your CD/DVD drive and boot from there. There is no need to even create a hard drive if you only want to test-drive the live CD.