Though this topic present over different forums with different confusing discussion but I couldn’t find any instance of it present over here at StackOverflow and it could be
Is it really impossible to develop for windows phone 8 with its emulator functioning if you have one of non-SLAT supported PCs?
Yes, it's absolutely completely impossible, done, finoto, acabado.
Why is it so hard for everybody to understand that? It's documentated everywhere, and you'll be told so when installing, and attempting to run the emulator.