Allright, my report is ready. I hope ya'll guys like it. I am open to any suggestions for any necessary changes. I would also like to post this somewhere on this site as a wiki or something if you think it's a good idea. Should I do it and if yes, where and how?
Here is the link:
http://students.uta.edu/ig/iga6742/vm.doc
Ivan
unSpawn, thank you once again for your help. The resources that you posted were really useful, and helped a lot