To be honest, for testing, nothing is better than a real system. You can find refurbished machines very cheap.
About jumping to the host, there is some exit routes for the malware like memory bug corruption, TCPIP, if the host memory space is a accessing the guest one, etc...
Note that full software virtualization are more susceptible to escapes, reason I never recommended using light virtualization for malware testing.
As I pointed above, networking between host and guests is another exit route, as well as some VM tools/features made for host-guest intercommunications.
And of course, dedicated exploits are possible like the old Cloudburst.
Even if all those situations are uncommon, they still exist, hence if you are really serious about malware testing, investing some bucks in a spare machine is way more efficient than any VMs.