I am questioning whether everything is set up through the VE system registers or if there's AXI / ACE emulation in these models. Thank you in advance!
What sort of things are you wanting to do?
The AEMv8 models are built using ARM's Fast Models tools. The Fast Models do model the bus connections of master/slaves, but at a very high level. So most connections between masters and slaves will use a generic model connection protocol called PVBus (Programmer's View Bus). This will give a functionally correct view, but doesn't model all the intricacies of AXI/ACE transactions.