Plugins for ADT and Eclipse do not seem to update nicely in Eclipse Classic version. Installing the J2EE edition allows a much nicer experience updating the default eclipse plugins as well an easier installation of the google ADT / Android plugin without a dependency nightmare.
Just like Amiga emulation, ARM/Android emulation seems a little on the slow side.
Most of the overhead is from initiating the start-up and not the actual running emulation.
Using a snap shot can make the emulator start and ready to roll in around a second.
Under the options for configuring your virtual device select use snapshot.
Under the launch options select start from snapshot.