Good, need to try pinball.sys on WinXP myself too
The bochs version I'm using is compiled by Froloff some years ago. But since then, he no
more uses OS/2 and his site is down. Though, I uploaded it to my ftp:
ftp://osfree.org/upload/froloff/bochs-froloff.zip
You just configure .bochsrc, add the disk images and configure the
boot device order, from which device to load first (boot: disk to boot
from a harddisk). Then you start bochs.cmd in a cmd/4os2 window
and it drops into the debugger.
Bochs is fine for debugging boot sectors or loaders, but it is too slow
to run a complex OS like OS/2 is. Not sure if it will start at all completely.