Android 4.0 is a major platform release that adds a variety of new features for users and app developers. Besides all the new features and APIs discussed below, Android 4.0 is an important platform release because it brings the extensive set of APIs and Holographic themes from Android 3.x to smaller screens. As an app developer, you now have a single platform and unified API framework that enables you to develop and publish your application with a single APK that provides an optimized user experience for handsets, tablets, and more, when running the same version of Android—Android 4.0 (API level 14) or greater.
Dalvik debug monitor has a new interface, "assert" view has been added.
Emulator now supports ARMv7 and theoretically GPU emulation.
Unfortunately GPU emulation causes a black screen with my ATI rig - i will try on my NVIDIA rig later.EDIT:
black screen also with NVIDIA GPU, so it must be a bug in the emulator itself
Also snapshot function crashes