Network simulation software allows users to model complex systems in detail and analyze proposed network systems before implementing them. Some popular open source simulators include NS2, NS3, OMNeT++, and J-Sim, while commercial options include OPNET, QualNet, and 20-Sim. These simulators vary in features such as supported programming languages, licensing, ease of use, and supported platforms. Simulation provides advantages like studying existing systems without disruption and gaining insights without implementing systems. However, it also requires time and training to properly use and interpret results.