Computer architecture simulation is an integral part of modern computer design process. Simulation can help architects reduce the time and cost of computer architecture design dramatically. However, difficulties of constructing simulators, long simulation time, and poor accuracy limit the effectiveness of simulation. Many researchers have proposed a wide range of approaches to resolving the three main problems, which are still open. Meanwhile, new challenges start to emerge for future computer architecture simulation. This paper investigates the history of computer architecture simulation, classifies and compares the existing methodologies and technologies, and analyzes the challenges to help architects select, develop, or research on simulators. A brief description of the simulator SimIPF design is provided as well.