Look at using a Genymotion emulator with Oracle's VirtualBox. I am using a Samsung netbook with this combination to execute Android programs from eclipse. The emulator takes about 20 seconds to start.
One problem I occasionally have is with the adb program. I have a batch file the kills and restarts the adb program. Running that batch file several times usually clears the problem. The batch file:
@rem kill/start server
@REM set ADB_TRACE=1