The procedure is as follows:

1. Download wintarget trial from http://www.stringbeansoftware.com
2. Download iscsi initiator from
http://www.microsoft.com/downloads/details.aspx?FamilyID=12cb3c1a-15d...
[sdc note: link is here.]
3. create guest machine with 2 virtual disks
4. install and configure it to be a dc for cluser domain. Create and format
partition on second drive. It will be our shared disk
5. Install wintarget on dc
6. create and install another virtual machine. It will be node1 of our VPC
cluster
7. add it to domain created in step 4
8. install iscsi initiator on it
9. repeat steps 6-8 for node2
10. On node1 and node2 run iscsi initiator and add target portals
11. Run wintarget management console, create new win target disk pointing to
second virtual drive
12. add both node1 and node2 initiators that will be using that drive
13. turn off node2
14. run iscsi initiator, point to available targets select one, press logon
and check "automatically restor..."
15. run computer management select disk management initialize wintarget
disk, create partition, format and assign Q letter to it
16. shut down node1 and run node2
17. run iscsi initiator, point to available targets select one, press logon
and check "automatically restor..."
18. run computer management select disk management and change wintarget
partition letter to Q.
19. turn off node2 and run node1 again
20. run cluster administrator and create new cluster
21. turn on node2 run cluster administrator and join to the cluster
22. test failover