Real-time simulation and hardware-in-the-loop testing have increased in popularity as grid modernization has become more widespread. As the power system has undergone an evolution in the types of generator and load deployed on the system, the penetration and capabilities of automation and monitoring systems, and the structure of the energy market, a corresponding evolution has taken place in the way we model and test power system behavior and equipment. Consequently, emerging requirements for real-time simulators are very high when it comes to simulation fidelity, interfacing options, and ease of use. Ongoing advancements from a processing hardware, graphical user interface, and power system modelling perspective have enabled utilities, manufacturers, educational and research institutions, and consultants to apply real-time simulation to grid modernization projects. This paper summarizes various recent advancements from a particular simulator manufacturer, RTDS Technologies Inc. Many of these advancements have been enabled by growth in the high-performance processing space and the emerging availability of high-end processors for embedded designs. Others have been initiated or supported by developer participation in power industry working groups and study committees.