Since there were older posts about gns3, I assume it's ok to talk about third-party Cisco simulators. In that case: I hear it's possible to get most Cisco switching commands in gns3 with certain images, such as the c3725-adxxxxxxxxx9-mz.124xx-1x.Tx.bin, by adding the NM-16ESW module to your imaginary router.
I don't see why LMS wouldn't be able to work with simulated devices.