1. A computer-implemented method of predicting a performance of a consolidated virtualized computing environment, comprising: processing benchmark workloads using a plurality of virtual machines to generate a plurality of traces, each trace comprising data corresponding to requests issued by a respective virtual machine operating in an isolated environment; storing the plurality of traces in one or more trace repositories, each trace repository provided as a computer-readable storage medium; selecting a trace from the plurality of traces stored in the one or more trace repositories; parameterizing a queuing model based on the trace, the queuing model representing request queuing in the consolidated virtualized computing environment; and processing the queuing model using one or more processors to generate one or more response time estimates for the consolidated virtualized computing environment.