Here are a few interesting benchmarks on QEMU, Valgrid simulation, Bochs and native speeds on x86. Also, a new stable release, Valgrind 2.2.0, is available. 2.2.0 brings many improvements over 2.0.0, and includes the new Massif heap-profiling tool.
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It would be more interesting to present benchmarks that aren't this outdated. How do current versions of the software compare?