Try using another android virtual device. You can create one by adding a new device by going to the AVD Manager. Select the screen size 3'2 and API-10 (gingerbread).
This worked for me, and it is super-fast now.
P.S.- My laptop used to take forever to load the emulator, and It never got started due to insufficient memory(4.2). I used to get restart again and again. This solved my problem.