[Hardware@node]# free -m
             total       used       free     shared    buffers     cached
Mem:          7957       7863         93          0        494       1627
-/+ buffers/cache:       5741       2215
Swap:        76316         14      76301

[Hardware@node]# vzctl exec 122 free -m
             total       used       free     shared    buffers     cached
Mem:          2048       1446        601          0          0          0
-/+ buffers/cache:       1446        601
Swap:      4194303          0    4194303

[Hardware@node]# vzctl exec 122 cat /proc/user_beancounters
Version: 2.5
       uid  resource                     held              maxheld              barrier                limit              failcnt
      122:  kmemsize                 12454306             17769132             29491200             32440320                    0
            lockedpages                     0                    8                  256                  256                    0
            privvmpages                370196               451812               524288               524288                    2
            shmpages                     3547                34020               131072               131072                    0
            dummy                           0                    0                    0                    0                    0
            numproc                       127                  167                  450                  450                    0
            physpages                  118534               189254                 1024           2147483647                    0
            vmguarpages                     0                    0               524288               524288                    0
            oomguarpages               118916               191761           2147483647               524288                    0
            numtcpsock                     36                  133                 4500                 4500                    0
            numflock                       12                   60                  270                  297                    0
            numpty                          0                    3                   20                   20                    0
            numsiginfo                      0                   18                 1024                 1024                    0
            tcpsndbuf                  632472              3914920             36864000             48384000                    0
            tcprcvbuf                  589824              6492384             36864000             48384000                    0
            othersockbuf               247464              1004464              1126080             12646080                    0
            dgramrcvbuf                     0               134312               262144               262144                    0
            numothersock                  152                  422                 4500                 4500                    0
            dcachesize                2473536              3032101              8847360              9732096                    0
            numfile                      3271                 4945                11250                11250                    0
            dummy                           0                    0                    0                    0                    0
            dummy                           0                    0                    0                    0                    0
            dummy                           0                    0                    0                    0                    0
            numiptent                      18                   18                  400                  400                    0

[Hardware@node]# vzctl exec 122 free -m
             total       used       free     shared    buffers     cached
Mem:          2048       1446        601          0          0          0
-/+ buffers/cache:       1446        601
Swap:      4194303          0    4194303

As xemul said.. the VE has no concept of the difference between ram and swap. Its just "memory" at the VE level. So, your HN can have 64MB of ram and 64GB of swap. Or, your HN can have 64GB of ram and 64MB of swap. In the VE, the privvm, oomguar, vmguar are uneffected by this. Only the performance changes between the two scenarios. In either case, you can guarantee and limit each VE to an arbitrary amount of memory. This drastically differs from the conventional mem management of vmware/xen (isoloation). VZ is a shared kernel model and no resources are "hard dedicated" or "hard assigned".

-not possible to give/assign/guarantee a VE XX swap and YY physical memory
-not possible to restrict a VE from using physical memory and use swap instead


Think of the VZ virtual servers like resource containers, not individual linux boxes- VZ is a shared kernel approach to virtualization.

Hope this clears it up for you.