to your first question.
Do you think this could be useful?
my answer...
yup.
(read about this a while back.)
It would great for those who do not own an n8x0 ...
but wish they could ...
without the need of buying one ...

In short ...emulating the n8x0 on your android ...means you could ...at the least....
install all the real grand progs that one just cannot run on android.
say....
install and enjoy the real deal ...
xmms...
and enjoy a decent player with effects, visualization eye candy, equalizers, winamp skins and all the jazz that goes with it....
Something that the n900 or andruid or ipoo or windose pones just can't manage to do...

I haven't run this emu yet...
It is on my short list of things to do this winter...
If so..
I will be using my POS droid phone (that I use as an actual phone) for more than just the basics..
(that being said...I do love the real deal n8x0 devices I have ..and doubtless I will never stop enjoying them..)

To your 2nd question ..
What do I think?
My answer...
Booberry..

at the moment ...
I am really Jones-ing for a big bowl of Booberry cereal right now.
Been a long time since I had a bowl of pure sugar that tasted so so good.

that is what I am thinking...