Yes, you can. It works fine, just like on a "real" Mac!

If you're using an AMD processor, don't install the CHUD tools, though (uncheck at the installation). They are known to cause a kernel panic.

If you install the CHUD tools and get a kernel panic, you don't have to reinstall Mac OS X. Simply boot into Leopard in single user mode (-s), type "mount -uw /" (to be able to read and write) and delete all CHUD extensions by typing "rm -r /System/Library/Extensions/CHUD*"