Agreed, but my point was that many customers (and their AX partners) running AX on vmWare would consider such a test as very valuable.
I know AX quite well from the technical perspective and agree with you to some extent that it's difficult to benchmark AX. Anyway MS has done this on Hyper-V and I findt this quite valuable when discussing virtualization with our customers.
I'm positive to virtualization, but when the customer bring up predictable performance, I get a little bit sceptic about virtualization. My experience shows that all the x-factors contributing to the dynamic nature of virtualization, adds a lot of complexity when performance issues arise and the customer is experiencing the performance issue in AX. It depends heavily in the type of cloud - private (dedicated platform for the customer) gives more room for optimalizing compared to public clouds (several customers sharing the same virtual platform).
I haven't checked, but if such a benchmark has been performed for i.e. SAP, I don't see the big difference since they are competing ERP systems.