I knew of a Windows 95 host running virtualized in a corp environment until at least 2014 or so. It was surprisingly sturdy, I only had to remote into it once or twice when the old software it was running hung up on something. It was old medical software and we apparently had a couple clients still interfaced to it.
Ya, RPG assumed character based IO so probably a safe bet that they just ported stuff that ran on IBM character based terminals and just made it run in DOS. (I worked in RPG in the 80's)
Huh, so someone actually built this? I was thinking about something similar the other day, in the form of a Windows 9x driver that would use that inaccessible RAM as a "page file".
Yes certain software for Canadian made nuclear power plants, comes to mind. Was a post on the VCF forums about a job listing that required PDP-11 knowledge.