We have a requirement where in we want to host 2 different web
applications to be hosted under the SAME virtual server, in SPS
2003.

I know that we can host 2 applications, creating 2 different virtual
sites for each. But we dont want to have sepatae virtual servers.

I came to know 2 options:

1. Creating sub sites under top level portal site (example -
http://spsserver/sites/Application1 and
http://spsserver/sites/Application2).

But, the drwaback with Site directory is, the sites created like
this are WSS sites, NOT SPS sites. So, they will not support
Audiences. So we cannot target web parts added to these sites to a
specific audience group.

(Please correct me, if i am wrong here...)

2. Second way which I though is, create separate WEB PART pages
under top level SPS site itself, for each applications.

(ex - http://spsserver/Document Library/Application1.aspx
and http://spsserver/Document Library/Application2.aspx)

In this approach, AUDIENCEs are there as this is an SPS site. But
problem here is, We cannot have 2 separate web part galleries. But
what we want is, the users of one application should not see the web
parts of Application2. But this is not possible in second approach.


My question is,

1. Is there a better way to achieve all these? i.e separate web part
galleries, content target to audiences, customoization etc..., BUT
still Under SAME virtual server???