EBCDIC you'll only encounter in the mainframe and midrange world, and it's indeed sobering to realize that its encoding makes perfect sense on punchcards, but none whatsoever on any more modern medium.
When I was at IBM, we were making x86-based appliances for business software. I thought it would be cool if they used a mainframe CPU instead of x86 for them. It would have been slower, but possibly more reliable. Definitely it could have had some marketing cachet.. On the other hand, we otherwise did not want to eat our own dog-food.
IBM had Nick Treddenick, the lead designer of the 68K do the work. His book "Microprocessor Logic Design" covers the development of the "Micro/370" in great detail, including flow charted microcode that looks remarkably similar to the flowcharts in Ken's article (though apparently Treddenick used flowcharts for the 68K microcode prior to moving to IBM. Regrettably I haven't actually read through my copy yet, so I can't give any further details.
Ken, if you see this I highly recommend tracking down a copy to read, I think it's right up your alley.
IBM still sells emulators, now software-based, for companies that do mainframe software development. And they are freakishly expensive.
That was deliberate and made a lot of sense. The functionality was split between two programs. The VM/370 part emulates the raw machine. CMS is the "operating system" on top of the VM "hardware".