Simple SQL Failover Plan? Log shipping? Mirroring?

I have a physical Prod DB Server (SQL05) and now a VM DB Server. The idea is if the physical machine goes down, we repoint our router (via NAT) to the VM machine. I am thinking of using Log Shipping to keep the VM DB basically current.

Is this the correct way to do it?
Should I be looking at another way, mirroring perhaps?
We would like the VM DB to be in an usable state at all times (so I think this precludes mirroring)

Any (good) suggestions requested! :)

Solution

Why wouldn't you use mirroring?

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