Have you got it working with PCI or PCIe? PCI devices attached to the top-level bus do not request I/O ports unless they need to, and if they do, they request only small slice.
QEMU also allows one to put 8 static PCIe devices into a single "multifunction PCIe device", so it requests 4K I/O ports per 8 devices, giving a bigger headroom. The downside, of course, is that all these 8 devices lose individual hotpluggability, and can only be added/removed en masse.
The biggest problem is hotplug slots, each taking 4K I/O ports unless told otherwise in a way libvirt does not support as I described in the article.
