Well, apart from the Honeycomb issues, it is a pleasure to use. If you don't have your phone plugged in and hit Run or Debug, it installs it to the emulator and runs it. If you do have your phone plugged in, it goes there. It's one button for either phone or emulator.
As a side note, I assume it will be this easy with 3.0 as well, so the slow emulator may not be a problem if you have a tablet plugged in. Even with the current emulator, I prefer to just use my phone; it's faster and gives me a better idea of how it really looks and runs.
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Well, apart from the Honeycomb issues, it is a pleasure to use. If you don't have your phone plugged in and hit Run or Debug, it installs it to the emulator and runs it. If you do have your phone plugged in, it goes there. It's one button for either phone or emulator.
As a side note, I assume it will be this easy with 3.0 as well, so the slow emulator may not be a problem if you have a tablet plugged in. Even with the current emulator, I prefer to just use my phone; it's faster and gives me a better idea of how it really looks and runs.