Bandwidth is bandwidth and *most* times, the apps dont care if it's DSL, Frame, SMDS or two cans with a tight string between them. More bandwidth, pull the string tighter
You can hook the serial port back to back without much trouble.. then set the bandwidth(speed) on the ports. What you wont get is any latentcy that the real world links always have so you need to factor that into the equation. Each router on a frame for example is worth roughly 5mS of delay all things being equal. The real worlds sees something around 10-20mS.. I have a line back to the East coast and it's roughly 80mS of delay. SMDS has a nasty habit of slowing down in response time when you toss a load on it.. from 20mS to over 150ms without any other change. Bad SMDS!!
The back to back cable can be a custom job for 40 bucks or a DTE and DCE V.35s tied together. We have a FAQ here that details it and the configs. The VPN would take a bit more work but I dont see why it's not doable given enough of a budget .. You can even simulate ISDN for about 2K for you dialback up testing.
If your routers have the builtin T1 links with the DSU/CSU on it, then a back to back T1 made from a length of cat5 cable, 2 RJ45 jacks is in order. Pins 1-5 and 2-4 will get it going. Even if the DSU/CSUs are external, this trick works well. Then you can toss out bit patterns and all sorts of fun things depending on the DSU.
You have not said how many users will be on the 64K link but 64K wont go far. The min I spec on any frame circuit is 128K anymore.
MikeS
"Diplomacy; the art of saying 'nice doggie' till you can find a rock" Wynn Catlin