Android: Why won't my emulator launch?

I've created a simple test project and a generic emulator TestDevice. However, I can't get the app to launch.

I just get a console-type window (oddly placed partially off screen) and nothing happens.

I am developing in Eclipse (Helios 3.6) on Windows.

Here's the log:

[2011-05-11 10:08:04 - androidtest] Android Launch!
[2011-05-11 10:08:04 - androidtest] adb is running normally.
[2011-05-11 10:08:04 - androidtest] Performing androidtest.AndroidTestActivity activity launch
[2011-05-11 10:08:04 - androidtest] Automatic Target Mode: Preferred AVD 'TestDevice' is not available. Launching new emulator.
[2011-05-11 10:08:04 - androidtest] Launching a new emulator with Virtual Device 'TestDevice'
[2011-05-11 10:08:14 - androidtest] New emulator found: emulator-5554
[2011-05-11 10:08:14 - androidtest] Waiting for HOME ('android.process.acore') to be launched...

EDIT

Thanks for all the tips!

• I am targeting Android 3.0 (API level 11)
• I've ensured that I specified androidtest.AndroidTestActivity as the Launch Action
• I've killed the adb process and restarted from Eclipse (even restarted Eclipse itself)
• I've also launched the emulator manually from Window > Android SDK & AVD Manager

Still, same problem.

Solved. It wasn't a problem with the setup.

The emulator takes forever and a day to start up, that's all.