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Re:Win3mu Part 1 –Why I’m writing a 16-bit Windows Emulator by UncleSlacky on Monday September 19, 2016 @06:53AM (#12530333)
Why not ReactOS?
Re:Win3mu Part 1 –Why I’m writing a 16-bit Windows Emulator by chris_wot on Monday September 19, 2016 @08:20AM (#12530777)
ReactOS is an effort to rebuild NT from the ground up, definitely not Windows 3.x

An entirely different beast.

Re:Win3mu Part 1 –Why I’m writing a 16-bit Windows Emulator by nandhp on Monday September 19, 2016 @10:39AM (#12531749)
ReactOS has an NTVDM, however, which runs on 64-bit (it does processor emulation, like OP). However, it looks like it doesn't support Windows applications yet:

http://community.reactos.org/index.php/news/years-progress-n...