I recall 2 things from mine:
I encountered a life raft floating in the water below, and had to make a MAYDAY call on its behalf.
The duration of the "virtual flight" is far less than that of the actual flight, and it's hard to get into one's head that one is expected to contact the next unit after 30 seconds rather than after 30 minutes as would be the case if flying the real distances. I confused the instructor because I was simulating long pauses to account for the next 20 mile leg
They tape it and keep the tape for a year; it is retrieved if you kill yourself (etc) and RT issues are suspected. Not sure what the value of this would be, since IMHO one's RT is only as good as one's currency.