Has anybody tried using Lauterbach's TRACE32 Simulator?

Hi guys.
I'm doing some investigation regarding TRACE32 Simulator. I'll be
simulating a board with a PowerPC chip installed running in pSOS. 

When using the board, I simply connect it through RS232 to my PC. To test
it, I use the Hyperterminal in Windows. But what I want is, instead of
using the board, I want to use TRACE32 Simulator as if it was connected to
my PC through RS232. I want to have an output like, a console maybe, for
testing. 

Is there a way to do this? Help.