May I run OS/390 V2R8 as a guest under any of the supported releases of z/VM? I believe it is unsupported by IBM, but, does it work? OS/390 is unsupported so I don't think I'm any worse off. I'm looking at bringing in a smaller, newer, IBM mainframe and trying to save some money on my IBM monthly license fees. But, I need to support an old guest running OS/390 V2R8. I can't afford to upgrade all the third party software that this guest is using.
Assuming that the release of OS/390 can deal with whatever disk and hardware you will be running it on, and you have standard CPs available, then it ought to work OK. Don't expect it to work with newer disks, OSAs, etc - you will probably have to isolate it as much as possible from the real hardware using minidisks, VSWITCH/gLAN, etc.