I tried vmware. But two problems:
1) Low performance cause as part of my research I need to write and test(need to use some windows specific libraries for some of the work, which is why I need to work in Windows) massively multi-threaded programs and so, I need the full 8 cores instead of 1 or 2(setting anything more than that in vmware, reduces overall system performance).
2) Windows Activation issues. I tried configuring bootcamp in vmware(a feature thats there in vmware fusion). Basically, windows and other microsoft products would go inactivated the moment I switched from Vmware to Bootcamp or vice versa, even after they have been activated once. It looks like Windows Activation, rather than using the processor ids, is now using the hardware ids of all devices; and now they seem to keep monitoring for hardware changes. So, when in vmware, its a different configuration than booting into native. I have been looking for ways to make it think that its the same. Haven't had any luck in that area yet.
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Regarding the syncing, when I tried syncing in Windows, the iTunes library was empty cause I had just installed iTunes in it and when I clicked on sync, it said that all the contents of my ipad will be replaced with whats there in the iTunes library(no contents in library). This shouldn't be any different from a fresh installation of mac osx with iTunes and then, trying to sync the ipad which I had been using all along.
Anyways, I have iCloud backup. so, I guess I'l just have to re-download all the apps, music and videos if I end up reformating the mbp.