Index: /trunk/src/VBox/VMM/VMMR3/EM.cpp
===================================================================
--- /trunk/src/VBox/VMM/VMMR3/EM.cpp	(revision 40370)
+++ /trunk/src/VBox/VMM/VMMR3/EM.cpp	(revision 40371)
@@ -44,4 +44,5 @@
 #include <VBox/vmm/iom.h>
 #include <VBox/vmm/dbgf.h>
+#include <VBox/vmm/dbgftrace.h>
 #include <VBox/vmm/pgm.h>
 #ifdef VBOX_WITH_REM
@@ -2111,4 +2112,7 @@
             if (enmOldState != enmNewState)
             {
+#ifdef DBGFTRACE_ENABLED
+                RTTraceBufAddMsgF(pVM->CTX_SUFF(hTraceBuf), "em-outer %d: %d -> %d", rc, enmOldState, enmNewState);
+#endif
                 /* Clear MWait flags. */
                 if (   enmOldState == EMSTATE_HALTED
@@ -2125,4 +2129,8 @@
                 }
             }
+#ifdef DBGFTRACE_ENABLED
+            else
+                RTTraceBufAddMsgF(pVM->CTX_SUFF(hTraceBuf), "em-outer %d: %d", rc, enmOldState);
+#endif
 
             STAM_PROFILE_ADV_STOP(&pVCpu->em.s.StatTotal, x); /* (skip this in release) */
Index: /trunk/src/VBox/VMM/VMMR3/EMRaw.cpp
===================================================================
--- /trunk/src/VBox/VMM/VMMR3/EMRaw.cpp	(revision 40370)
+++ /trunk/src/VBox/VMM/VMMR3/EMRaw.cpp	(revision 40371)
@@ -30,4 +30,5 @@
 #include <VBox/vmm/iom.h>
 #include <VBox/vmm/dbgf.h>
+#include <VBox/vmm/dbgftrace.h>
 #include <VBox/vmm/pgm.h>
 #ifdef VBOX_WITH_REM
@@ -1383,4 +1384,7 @@
             ||  VMCPU_FF_ISPENDING(pVCpu, VMCPU_FF_HIGH_PRIORITY_PRE_RAW_MASK))
         {
+#ifdef DBGFTRACE_ENABLED
+            RTTraceBufAddMsgF(pVM->CTX_SUFF(hTraceBuf), "em-raw ff %08x/%08x pre", pVM->fGlobalForcedActions, pVCpu->fLocalForcedActions);
+#endif
             rc = emR3RawForcedActions(pVM, pVCpu, pCtx);
             if (rc != VINF_SUCCESS)
@@ -1449,4 +1453,7 @@
             rc = VMMR3RawRunGC(pVM, pVCpu);
             STAM_PROFILE_STOP(&pVCpu->em.s.StatRAWExec, c);
+#ifdef DBGFTRACE_ENABLED
+            RTTraceBufAddMsgF(pVM->CTX_SUFF(hTraceBuf), "em-raw run => %d", rc);
+#endif
         }
         else
@@ -1542,4 +1549,7 @@
         {
             Assert(pCtx->eflags.Bits.u1VM || (pCtx->ss & X86_SEL_RPL) != 1);
+#ifdef DBGFTRACE_ENABLED
+            RTTraceBufAddMsgF(pVM->CTX_SUFF(hTraceBuf), "em-raw ff %08x/%08x post", pVM->fGlobalForcedActions, pVCpu->fLocalForcedActions);
+#endif
 
             STAM_REL_PROFILE_ADV_SUSPEND(&pVCpu->em.s.StatRAWTotal, a);