No, there is an emulator, which is part of MADDE, which is included in the Nokia Qt SDK. You should be able to start it in the down-left corner of the SDK or alternatively out of the MADDE terminal.

After you have started the qemu runtime, configure it in the SDK:

1) tools -> options -> projects -> maemo device runtime

2) choose maemo emulator

3) set in the projects the runtime you have just created

4) start the application as you would do on a remote device.

Hope that helps. Let me know if you have problems. But in my opinion the easiest way is still the device itself. If you have that option I would recommend that.

Daniel