Hi.
anytime you need ASIC hardware for the feature then there is very probable limitation.
example:
MPLS labels are handled by ASIC = if you want MPLS on VM then you will have all signaling working but no dataplane.
I believe there is only one exclusion: ACLs works on VM even in the real it is done by asics.
Regards
Z.
Regards
Zdeněk Pala