I'm sure someone else can explain the differences better than me but here's some differences between returnil and a VM.
A VM virtualizes hardware and consumes part of your recources to run a completely separate OS, while in a VM you can install programs, reboot, take snapshots to revert back to.
But with returnil it just sits in the tray until you decide to turn it on, once you do that then anything that gets saved on your computer will be gone once you restart, so it's not an ideal way to install programs that need a restart along with other things that a more powerful program (VM) can do.
It depends on what you're doing to decide what you need
If you want to install and test out a different OS or programs that need a reboot then a VM is better but if you're looking at it for security and only using a low amount of resources then returnil is better.
Now as of for security there's a difference between the 2
Sandboxie: even though returnil virtualizes the whole OS I still feel sandboxie is safer with only virtualizing programs because if any malware gets in it will be chained to the sandbox the malware inside can't get higher rights than sandboxie, as well as malware can't install drivers, services, etc. inside the sandbox. and when you're done using your program inside the sandbox you can just empty it and everything including malware is gone.
Returnil: it virtualizes the whole OS now I said I thought sandboxie is safer because any malware can do whatever it wants to your system it's not restricted to a sandbox, now any malware should be gone when you restart but I feel that it would be possible for malware to tamper with returnil's files since there's nothing really stopping malware from getting as high of rights as returnil,
So I think returnil is best suited to be used in a limited account because the malware would be limited in what it can do and couldn't get as high of rights as returnil which would be installed with an admin account,
Now of course this is just opinion and the malware would probably have to be aware of returnil being installed.
Also newer versions of returnil have an anti-execute tool which will ask you what executables can execute.
Now there have been times in the past where malware has bypassed those 2 programs but it's very rare these days, especially sandboxie now I only say that since I see more people testing sandboxie with live malware than I do returnil.
And the developers of those products are very quick to fix any holes that malware breaks through once the hole is found and confirmed,
Now that's enough of those 2 programs.
Now onto GesWall the term most used for it is a "policy sandbox" just for reference sandboxie is called a "virtual sandbox",
The programs isolated inside GesWall's sandbox are restricted in what it can do to your system, I'm not entirely sure what it's restricts yet though I haven't had much time today to really try it out much.
I don't think there's any time limit with the trust, it's basically 2 options trusted and isolated. you'll actually want to keep your internet facing apps to isolated like browsers, email clients, etc. since that's where a lot of malware comes from. I think you'll mostly just need trusted for installation files so that when a program is installing it won't be restricted.
I don't know about the removable drives/disks I know it can't control files/programs on them that's why they lose their trusted/isolated label if a file is moved from drive to drive but I'm not sure if it can control files coming from them by isolating a drive perhaps...?....I need to test/try it some more.
Also since you seem willing to pay another option is
DefenseWall sorry to make things harder by adding more to choose from but I wanted to add it since I've heard it's easier to use out of the box but I think geswal is said to be more configurable and I believe DefenseWall is more actively developed, I've never used it though.
Ram usage from task manager on my computer right now is
GesWall
gswserv.exe = 8,452
gswui.exe = 8,796
Sandboxie
SandboxieDcomLaunch.exe = 2,856
SandboxieRpcSs.exe = 3,632
SbieCtrl.exe = 7,836
SbieSvc.exe = 2,312
Returnil
Returnil.exe = 6,812
Now those numbers can vary from system to system since no 2 are alike.
Also I don't currently have returnil active so that might change if I activate it.
I'm actually only using sandboxie currently, I don't have anything running inside geswalls sandbox currently.
And ram usage isn't the only way to define a low resource program there's also CPU, disk writes, etc.
Wow that was a long post, hope you don't mind reading.

And sorry for any typos...I think I got them all.
