Pcemu

Pcemu is a simple IBM PC emulator, that emulates an 8086 CPU, along with text mode VGA hardware. The first version was written by David Hedley, as part of his

Currently it can be downloaded on sourceforge.

While restricted to text mode programs, it can run:

MSDOS 5.0                         MSDOS 6.2
WordPerfect 5.1                   Borland C++ 2.0
Turbo Debugger 2.51               Turbo Assembler 2.51
BBCBasic 4.61                     MSDOS QBasic
MSDOS GWBASIC                     Virtually all program that came with MSDOS 5
Hitchhiker's Guide to the Galaxy  PC Magazine's ANSI.COM
SemWare's QEdit 2.1               Norton Utils 4.50 Advanced Edition
Norton Utils 6.0                  Xtree Professional 1.1
PowerMeter Utils                  Autoroute (ancient version)
Minitab 8.0                       Microsoft Diagnostics

pcemu is relativly portable, and can run on Sun & i386 machines. I've no luck with the Dec Alpha, but I haven't looked to much into it. Also I've done a super basic port to Win32/Win64, with Visual C++ 5.0 and higher.