Android has updated their emulator in their SDK with hardware acceleration. This allows developers to run graphics intensive apps and even OpenGL games at near real-time speeds.
Developers are now able to rapidly test their application iterations without having to transfer it to their handsets each time they are looking to test it. Check out the new emulator in action in the following video.
So if you are a developer head over to the source link and get your hands on the latest Android SDK for your computer and try out the new emulator for yourself.
source - Google