I used Virtualbox 4.2.8 for this test:
-Vbox running on Windows 7 system
-VM built-in profile 'Mandriva' with 512MB RAM allocated
-Media: Mageia 3 RC Installer CD (the 700MB one)
-I saw no reason to download the 4GB DVD, I'm only a basic tester.
-I set no internet available during install
Here are the settings used for this install:
-English(Canada)
-US Keyboard
-Selected ALL the software sets (just to see if any problems arose...)
-Did not enable individual package selection
-Consumed 1 bottle of beer during the process
-Configured Monitor (Vbox default screen) as "Plug'n'Play"
-did not choose to install updates, internet access disabled
I will post further successes as I play around with it. If there are any particular tasks I should try with this system, please let me know and I'll try as much as I can.