Big pain in Android Game Development (and maybe development in general) is the slow emulator. It's a great tool to test different screen sizes etc, but especially accelerated graphics makes it very hard to use.

Recently, Intel Atom Android images were made available (Android 2.3 and 4+) and Intel released HAXM driver that makes use of Intel Virtualization Technology. Basically it means the driver lets the emulator use your HW directly, given you have Intel processor that supports the Intel VT.

The speed increase is significant!

More information about emulator and installation instructions