I'm wondering about how Task Manager calculates CPU utilization in a virtualized environment. I can think of two ways:
Count the number of cycles used and divide by the number of cycles available, OR
Count the number of cycles used and divide by number of cycles that should have been available in the amount of elapsed time.
In a non-virtualized environment, these would lead to the same answer, but in a heavily utilized virtual environment, I could see how they would be different. (And I have a sneaking suspicion that Task Manager is using the second method, which means that I'm not getting a true picture of my CPU utilization.)