I agree wholeheartedly and routinely run concurrent intensive smoke tests on real-world HW as well as smoke tests on finely-modeled virtualized environments.
Even with the best modeling and virtualization, a true and thorough, 100% 1:1 approximation with the real world at runtime can likely never be attained for a myriad of reasons.
However, when lives are on the line, this gap must be closed in some manner so as to provide a greater degree of confidence.
Even the most thirsty organizations with lesser consequences for their failures are usually conservative enough and risk-averse enough to know better than to release without thorough (and relatively inexpensive) testing.
My old boss used to tell stories about back in the mainframe days whereby he would send customers fancy, branded and shrink-wrapped finished-product but containing blank tapes for the latest release in order to buy a couple of weeks of extra dev time if he thought the software wasn't ready to escape.