"Although I'd still want long odds on someone being able to virtualise a Novell or SCO server in the first place :)"
Perfectly doable. I've virtualused s SCO openserver 5 application back in around 2007 before there was anything like vmware converter.
I just did a fresh install of the OS into a blank VM and moved the application, it's database and configuration files across. It wasn't too tricky at all really, took a couple of days of hacking around with it, even with no documentation or support.
The only problem was I could never get the OS licence CALs to work so we were stuck with the 5 you get by default. Thankfully that wasn't an issue because as a legacy system it wasn't used by many people in the business any more.