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I am trying to use a program called winThrottle to slow down my CPU for an older game. When I try to run winThrottle I keep getting an error that says "ACPI I/O space unallocated". How do I get rid of this error? Is there a way to allocate space manually?

You could try slowing down the VM (settings|System|Processor|ExecutionCap), rather than slowing down your entire host PC.