One option that hasn't been mentioned is using a Xen hypervisor (Xen is similar to VMware, but free and open source). But I don't recommend this to the inexperienced.
The reason why Xen stands apart from all other solutions mentioned here (Wine, VirtualBox, etc.) is a feature called VGA passthrough, which allows the guest OS to take full control of a graphic adapter and thus get native (bare metal) graphics performance. Xen is also very efficient with other tasks such as disk I/O so that in the end you can run Windows in a VM with next to no performance penalty.
This Xen solution (with VGA passthrough) requires specific hardware features, and unless they are all met, it won't work. The basic requirement is IOMMU support called VT-d for Intel CPUs, or AMD-Vi for AMD CPUs. For example, PJs Ronin Intel i7 3770K CPU will be useless, whereas a i7 3770 CPU will be just fine because it supports VT-d.
I've been dual-booting for many years because I needed Adobe Photoshop as well as support for monitor calibration. Wine doesn't support newer releases of Photoshop, and neither Wine nor VirtualBox (or any other VM solution except Xen) support my NEC monitor calibration system. Using Photoshop or similar to work on RAW photo files also benefits from every CPU resource you can throw at it, and VirtualBox is not the most efficient solution and doesn't compare with Xen or KVM in terms of performance.
While dual-boot worked fine, it was a pain in the neck for me. I use Linux for everything except photo processing. So if I wanted to send a few photos via email, I had to reboot into Linux. The OP uses a number of MS Windows based applications (Office, Adobe CS, games) and dual boot might be the best option if for example Ubuntu is only used occasionally, and if there is no need for exchanging data between Windows and Linux applications. In my case I use Linux and Windows 50/50 and I need to exchange data and switch between both in a quick and easy way (without rebooting).
Xen with VGA passthrough solved this problem for me. Since you get native graphics performance under the Windows guest OS, it is also a perfect solution for gamers who keep Windows to be able to play. I've written a "HOW-TO make dual-boot obsolete using XEN VGA passthrough" for Linux Mint, but this should work with little to no modifications for Ubuntu. See:
http://forums.linuxmint.com/viewtopic.php?f=42&t=112013.
The OP may also consider to migrate to Ubuntu. Here a few Windows based apps and their Linux equivalents:
MS Office - LibreOffice, Oracle OpenOffice (these two include all except an Outlook equivalent)
MS Outlook - Evolution (also connects to Exchange server), Thunderbird, and more
Adobe Photoshop - Gimp, and/or RAWtherapee and others for RAW photo conversion
Color management - LittleCMS 2, Argyll, and more.
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