I've recently started using Bluestacks which seems to be very good, fast and stable. I'm sure there will be some issues with the more exotic areas of the OS but it's free whilst in Beta and if it's not too expensive once released, I think it'll be worth keeping for those times I don't want to break out the real device.
There is a slight issue around orientation but there are some apps on google play that will help with that.
Once installed the ADB server just finds it.