I've been doing a little snooping around in preparation for installing VM/CMS under Hercules on my MacBook. Unfortunately, I have found that the VM version is VERY old - VM/360, which did not have important additions like flist, xedit, and rexx.
This is bad, since these were really the reasons I wanted to give this a try. My experience with CMS is from a users perspective, so the systems level stuff will be alien to me and of less interest than actually using the system to do real work, like programming in Fortran.
Back to the drawing board - I'm not giving up yet!
-Tom