Depending on how you want to be with your lab, I'd suggest...
Plug some AP that can be powered via POE into one of the two POE ports
Cisco Catalyst 3560G-24TS (upgrade for l3 stuff, good for lab will be able to L3 routing and/or turn as many ports as you want into routed ports)
There is the CE500 series, but those are real peices of shit.
Otherwise, after that it's the same-same IMO.
If you can go without the 1Gbps ports, you could get an 1800 series router w/ 8 switchports and B/G/N. However, given that you love VM I'd imagine you're really going to want the gig ports.
My '03 Sold.