To check my built sources for emulator I've created the following script in the root folder of the project. I run it from another command line and it does not require to run all the time running . build/envsetup.sh and lunch full-eng commands. You can edit this script for your needs and if you need to run other device - simply change folder.
out/host/linux-x86/bin/emulator -sysdir out/target/product/generic/ -system out/target/product/generic/system.img -ramdisk out/target/product/generic/ramdisk.img -data out/target/product/generic/userdata.img -kernel prebuilt/android-arm/kernel/kernel-qemu -sdcard sdcard.img -skindir sdk/emulator/skins -skin WVGA800 -scale 0.7 -memory 512 -partition-size 1024
