My laptop: Intel Core 2 Duo CPU, 2GHz, 1GB RAM.
I created a target with SD Card 512MB, Device RAM size 512, snapshot enabled. I waited for 30 minutes but the
Emulator is in general very slow, and the higher the OS version on the emulator, the slower it gets. I'm a game developer, and with my AMD Athlon X3 2.90 GHz with 4GB RAM it gives me 5-6 fps. I tried to open one of my apps on Honeycomb emulator, and it was really terrible. It opened, but I couldn't do anything with it. So the best answer is purchasing a real device.