TFS Lab Management can be a good way to manage your development and test environments, providing a means to more easily store, deploy and snapshot environments. Problem is they are not magic, you need to create the virtual machines you will use. You can use tools such the ALM Rangers VM Factory to speed this process, but you still need the source ISOs to create the VMs.
Until the release of System Center 2012 SP1 (and TFS 2012 QU1) Lab Management did not support Windows 8 or Server 2012. This was a limitation with the System Center 2008 Virtual Machine Manager. But with the release of these new versions you now have no excuse not to have a look at TFS Lab Management for even your most cutting edge projects. And remember you are licensed Lab Management (including SC-VMM for the sole use of TFS Lab Management) as part of your TFS 2012 MSDN license.
So if you want to have a look at System Center or Windows Server 2012 why not try the new evaluation downloads on TechNet