Keep in mind that each time it is launched, VM reopens the projects that were open when you exited VM last time. This can lead to slow startup perfromance when there are many projects with many files to be opened. If this is a problem for you, then make sure that some or all projects except the Master Project are closed before you exit VM.
The network speed to a cloud-based server is typically slower than a LAN connection. Using a VM File Server with split archives can reduce the impact of this on non-WAN optimized interfaces like the VM Desktop Client GUI or the command line interfaces (PCLI, CLI).
CB for Windows 5.1.1 used PVCSWXEC.EXE and PVCSWXEC.PIF to create a DOS Execution box, and it communicated with it via the Windows clipboard. This old method was slow and unreliable. The system has been completely replaced in CB 5.1.4 for Windows, and the VxD is one piece of it.