Ok, running the guest with clock=acpi_pm added to the Linux command line, whilst the host is running the 2.6.32-32 kernel has given me stable behaviour for 20 minutes with constant CPU usage, so it very much looks like this is a duplicate of bug 790789.
-- You received this bug notification because you are a member of Ubuntu Server Team, which is subscribed to qemu-kvm in Ubuntu. https://bugs.launchpad.net/bugs/799166 Title: KVM guests freeze on an AMD-based host since it was upgraded to kernel 2.6.32-32 To manage notifications about this bug go to: https://bugs.launchpad.net/ubuntu/+source/qemu-kvm/+bug/799166/+subscriptions -- Ubuntu-server-bugs mailing list Ubuntu-server-bugs@lists.ubuntu.com Modify settings or unsubscribe at: https://lists.ubuntu.com/mailman/listinfo/ubuntu-server-bugs