1. A system, comprising: a processor with a memory map specifying a user mode region with virtual address translation by a memory management unit and a kernel mode region with direct virtual address translation, wherein the processor executes an application in the user mode region, where virtual addresses are not unique; a probe to receive trace information from the processor; and a host system to receive the trace information from the probe, wherein the host system includes: a data structure associating a process name, a process identification and a set of instruction counters, each instruction counter being incremented upon the processing of a designated virtual address within the trace information; a profiling module to process information associated with the process name and set of instruction counters to identify a performance problem in the application.