CPU Capping?

Does GSX Server cap the amount of CPU a single VM can use?

For example, for a single CPU machine with 4 VMs running, does it set an upper bound of 1/4 CPU usage for each VM? And what about dual-CPU machines?

I ran a simple test with 6 running VMs. I got one of the VMs using 100% CPU (as indicated by its Windows Task Manager). The host Windows Task Managager showed this VM process at roughly 25%.

My test was for a dual-cpu machine. I don't know how to tell which CPU VMs are allocated to so I'm not sure if GSX server is say, capping CPU usage at 25% because 4 VMs are running on that CPU.

Regards,

Patrick