Upload the VM and your favourite image/changes duo to your ipaq, and then launch it. That's pretty much it.
By the way, if anyone out there has a favourite fresh, mini, 3.x image out there that would be good for use on the ipaq, please post or link to it here.
There is a neat looking full size keyboard for the iPAQ and other handhelds at http://www.thinkoutside.com/pocketpc.html