> Sounds like 64 bit performance is a little better

In CPU emulation? It's near native performance when virtualizing a POWER9 or POWER8 system with KVM-HV.

> but neither of the emulated cpus run at their full potential.

Yes, that's the nature of CPU emulation. KVM-PR is needed to run virtualized Power ISA CPUs other than POWER(N) or POWER(N-1) to the host CPU's full potential on a POWER(N) system.

> You would think that 32 and 64 bit sessions would be capable of being emulated
> at close to full speed.

...only if virtualized with KVM instead of emulated :-)

> With a 16 thread processor, that would mean 16 potential G4 or G5 level sessions
> all running concurrently.

...as soon as KVM-PR works on PowerNV, if the session is wished to be faster than 1 GHz G4.