I don't know about z/VM 5.3, but running z/OS 1.10 under z/VM on a z13 and z14 
works (and probably also on a z15), so it's likely that it will work on a z12.

Also, I believe you can still license the lifecycle extensions for 1.10 to run 
on the z12, but converting from 1.10 to 2.x is something you can do over a 
weekend for the OS part.  The other products (from non-IBM vendors) might (or 
might not) work without any changes (depending on the 'x' of the 2.x), but from 
1.10 to 2.3 is fairly straightforward, I have jumped from 1.10 to 2.1, 2.2 and 
2.3 many times without any major (and only a few minor) problems.  Going 
directly to 2.4 might be a little more difficult, depending on your software 
mix because of some changes, but if you are running 1.10 now in an LPAR all by 
itself, the conversion should be a snap.

Assuming you share dasd between your old system and the new z12, you can ease 
into the new OS's without impacting anything on the old ones.  If not, it can 
still be done really quickly, and if you need some pointer feel free to send me 
your questions either offline or here.

Brian

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