My laptop supports hardware virtualization (AMD SVM) and I know that:
You can run Android-x86 in QEMU with KVM (or even in VirtualBox). I'm not sure how easy it would be to set up for development but it should run quite a bit faster. Also, Intel are working on getting Android on their x86 chips so this will hopefully become easier in the future.
Update: I managed to get it working in VirtualBox, except some sites crash the web browser. Since I was making a web app, this was not helpful. It was much faster than the standard Android emulator though,