I \'ve downloaded android studio 1.0 but when I create an emulator and i try to start it gives the following message PANIC: Could not find android2.ini file in $ANDROI
I was experiencing the same issue, and just resolved it by changing the environment variables from ANDROID_AVD_HOME to $ANDROID_AVD_HOME.
This must have been a change between versions. I had removed all android/appinventor/eclipse programs, SDKs and so on - some manually - in order to get a fresh install and wound up with this error.