MobaLiveCD is a freeware that will run your Linux LiveCD on Windows thanks to the excellent emulator called "Qemu".
MobaLiveCD allows you to test your LiveCD with a single click : after downloading the ISO image file of your favorite LiveCD, you just have to start it in MobaLiveCD and here you are, without the need to burn a CD-Rom or to reboot your computer.
what is this? A somehow different clone of qemu? I tested and seems to work. I didnt tested with windows based isos yet.