Kamal,

>if we say VA=PA and just place the kernel and requried
>binaries at different locations -will that work?

You would still need to figure out a way to fork().

>Can we emulate virtual to phys translations using s/w?
>It will slow things down, but will still be usable. I
>mean, assume that every address space resides in a
>contiguous block of memory and use a translation
>scheme that translates only base addresses.

I suppose you could "protect" all data/bss/heap/stack pages such that a 
read/write to any address would invoke an exception. You could then apply a 
segment offset to the address according to the process, load/store the value 
into/from the register, increment the program counter past the load/store 
instruction, and continue. This would be VERY inefficient but would be kinda 
cool to see working! :^)

Best regards,
Jared Momose