I guess this has already been implemented in some or the other DBMS, latest when I searched in Google, I've seen this being implemented first by Delphi.
But of course everyone is catching up with Cloud.
So I thought why not Sql Server and so are my thoughts on this:
I would like to see the following features in a virtualized database:
1) To restore a database, just drag the source database and drop it on the destination, the system alerts you if you want to replace the destination database and on clicking yes, it should just replace the destination with source
2) drag and drop the database to create a new copy on the destination
3) Create a virtual database with data/log files etc all virtual
4) implement other solutions like mirroring, log shipping and clustering on the virtual databases.