Full comment
Well, LLVM is something else altogether, as it doesn't try to abstract away the OS, while the JVM does[1]. As to the JVM, well, first of all, there is no "the JVM". There are many JVMs by many vendors, and many types of JVMs (from smart-cards, through various embedded devices, and all the way to desktops, servers and mainframes). Some of the most interesting -- and most important -- ones are made by companies you've probably never heard of, like Aicas and Atego that make hard realtime JVMs for use in avionics, medical devices and other safety-critical systems. The best-known JVMs are HotSpot, OpenJDK's JVM (which serves as the basis for Oracle and Azul's JVMs) and J9, IBM's JVM. When many people say "the JVM" they mean the SE (i.e. "standard edition") of HotSpot. While HotSpot and the CLR are more similar -- at least in their goals -- than different, and each is ahead of the other in some respects and behind in others, I'd say that the most interesting features of HotSpot are its JIT and GCs (it comes with a few) that are years ahead of anything else used in any other environment in the industry (well, except Azul that sells a modified HotSpot with a "pauseless" GC that never pauses the application for more than a few microseconds). In my opinion, the most exciting development regarding HotSpot is the work being done on HotSpot's next generation optimizing JIT called Graal, that comes with an a complementary language toolkit called Truffle[2]. It pushes the envelopes further