Well for one thing if this is a simulation there is no reason for the whole universe to actually be simulated, only the parts we are looking at. Even modern game designers are able to get around that one.

It will have as emotions whatever it is designed to have, that is whatever it’s creators build it to have, or whatever it evolves to have. It will be presumable be possible for it to change it’s own core programming. But it seems to me that it is unlikely it would desire to cut out parts of it’s ‘self’. We don’t need our limbic system, but we still want it. I think saying that a super intelligent AI wouldn’t have things it doesn’t need is very short sighted.

In the infinity of time that a super AI would have available to it I think its a reasonable suggestion that at some point it would simulate just about everything that it is possible to simulate. You have to remember that such a being would be around for trillions of trillions of years. It would possible for it to change it’s perception of time, such that, from it’s own experience, it is as close to eternal as can be imagined. What else is there to do but run though all the possible things that could be?