To use DOSBox is the only answer, I get everywhere.
I've tried DOSBox and find it very impressive, because many
games are running fine under DOSBox.
But there are two major reasons,
I try to get games running in a MSDOS-VM:
1. DOSBox needs a lot of CPU power to emulate the old dos games.
Though the games were made for old computers, they occupy a lot
of cpu ressources on hosting computers. I figured out, that VirtualBox has in generall a very low cpu usage on host computers and if the games would run under VirtualBox, the performance increase would be more appropriate.
2. DOSBox is not a true vm - in my opinion. The only consequent way
to emulate an old (for example 80286 i had) pc is to emulate the computer completely. This is the only safe method to ensure, almost every old program (may it a game or an application) can be executed
in this emulation, just as if it were a real pc.
But regarding to the fact, that for example games won't work, the vm
seems for me not to emulate the pc/os completely and I have no trust
in it to get a real emulation.
But one thing must always be said:
I think of VirtualBox as an interesting alternative to VirtualPC (VirtualPC
even cannot emulate the RAM in MS-DOS realistic!) and I have great
respect to the people who work on this project.