@penguin42 @stsquad There aren't that many. Valgrind VEX, DrMemory DynamoRio and Intel pin (if that it still maintained).
As far as I understand there are fairly big differences between them. QEMU is just doing binary translation, which may be cross architecture. I guess that much of the complexity comes from the many architectures that it supports.
DynamoRio (amd64,x86,arm.arm64) and pin (amd64 and x86 only) do dynamic binary instrumentatiion so roughly speaking the original opcodes pass through with added instrumentation. Valgrind VEX (amd64,x86,arm64,arm,ppc32,ppc64,mpis32,misp64,s390) does a more complete recompilation, converting to IR, performing register allocation and regenerating machine code.
Valgrind has a fairly chronic lack of developers working on VEX. IBM s390 is well supported, and there is some work going on to share features like SSE4.1 between amd64 ans x86. There are big, long standing gaps in our amd64 coverage (avx512, fp16 and many more). Our floating point emulation is not great as well (rounding mode issues, no FPE support).
QEMU is much bigger than the other projects. It is about twice the size of all of Valgrind (or about 4x the size of VEX). It also has many more contributors and commits - 5 to 10x what we get in Valgrind. As far as I know DynamoRio is pretty much a one man show. I don't know much about Intel pin.
Lastly I believe that the architecture of these tools is fundamentally different (and thus difficult to combine)
VEX is based on swtch/case code.
QEMU is table driven
DynamoRio and pin use dispatch tables and function calls.
syscall wrappers in Valgrind are a fairly big part of the code, but mostly they don't do much, just check the arguments and check pointers to memory that the syscalls read or write. And do some fd checking / monitoring. It's only process/CPU syscalls where Valgrind has to do a lot more intrusive work.
For /proc and sysctls we do virtualise a few but for most of them we can just pass through to the originals.
ELF (and macho) and DWARF readers are also sources of headaches for us.