A serial data link measurement and simulation system for use on a test and measurement instrument presents on a display device. A main menu having elements representing a measurement circuit, a simulation circuit and a transmitter. The main menu includes processing flow lines pointing from the measurement circuit to the transmitter and from the transmitter to the simulation circuit. The main menu includes a source input to the measurement circuit and one or more test points from which waveforms may be obtained. The simulation circuit includes a receiver. The measurement and simulation circuits are defined by a user, and the transmitter is common to both circuits so all aspects of the serial data link system are tied together.