I recently came across an interesting program - Limbo ARM Emulator.
From interesting features of the program that it can emulate the n800/810 hardware and many others. This is quemu-system-arm port for android http://limboemulator.weebly.com/arm-emulator.html

Features:

The following devices are emulated for the ARM Integrator / CP card:
- Processor ARM926E, ARM1026E, ARM946E, ARM1136 or Cortex-A8
- Two UART PL011
- Network card SMC 91c111
- LCD controller PL110
- PL050 KMI with PS / 2 keyboard and mouse
- MMC PL181 interface and memory card

For the ARM Versatile card, the following devices are emulated:
- Processor ARM926E, ARM1136 or Cortex-A8
- Vector interrupt controller PL190
- Four UART PL011
- Network card SMC 91c111
- LCD controller PL110
- PL050 KMI with PS / 2 keyboard and mouse
- PCI bus. Note that it only provides access to memory space, but not IO. This means that some devices (for example, ne2k_pci NIC) are unsuitable, and others (for example, rtl8139 NIC) can only be used if guest drivers use managed memory registers.
- PCI OHCI USB controller
- Adapter LSI53C895A PCI SCSI with support for hard drives and CDs
- MMC PL181 interface and memory card

Several variants of ARM RealView are supported, including EB, PB-A8 and PBX-A9. Due to the peculiarities of interaction with the loader, these boards will only work with certain Linux kernel configurations.

The PB-A8 core should have CONFIG_REALVIEW_HIGH_PHYS_OFFSET enabled and 512 MB of RAM be calculated. Kernels for the PBX-A9 board must have the CONFIG_SPARSEMEM parameter turned on and the CONFIG_REALVIEW_HIGH_PHYS_OFFSET parameter disabled, and also be calculated for 1024 MB of RAM.

The following devices are emulated:
- Processor ARM926E, ARM1136, ARM11MPCore, Cortex-A8 or Cortex-A9 MPCore
- ARM AMBA interrupt controller
- Four UART PL011
- Network card SMC 91c111 or SMSC LAN9118
- LCD controller PL110
- PL050 KMI with PS / 2 keyboard and mouse
- PCI bus
- PCI OHCI USB controller
- Adapter LSI53C895A PCI SCSI with support for hard drives and CDs
- MMC PL181 interface and memory card

For PDAs based on XScale ("Spitz", "Akita", "Borzoi" and "Terrier") the following devices are emulated:
- Intel PXA270 SoC (core ARM V5TE)
- NAND flash memory
- IBM / Hitachi DSCM hard drive in PXA PCMCIA slot - except for "Akita"
- Integrated OHCI USB controller
- Integrated LCD-controller
- Built-in real time clock
- TI ADS7846 touch screen on the SSP bus
- Analog-digital converter Maxim MAX1111 on the I2C bus
- Keyboard controller connected to GPIO, and LEDs
- A memory card connected to the PXA MMC / SD interface
- Three built-in UARTs
- Decoder WM8750 on the bus I2C or I2S

For Palm Tungsten E (code name "Cheetah") the following devices are emulated:
- Texas Instruments OMAP310 SoC (core ARM 925T)
- ROM and RAM memory (firmware image can be loaded with -option-rom)
- Integrated LCD-controller
- Built-in real time clock
- Touch screen TI TSC2102i / analog-to-digital converter / decoder connected via MicroWire or I2S interface
- Matrix keyboard connected to GPIO
- A memory card connected to the OMAP MMC / SD interface
- Three built-in UARTs

For tablets Nokia N800 and N810 (also known as RX-34 and RX-44/48) the following devices are emulated:
- Texas Instruments OMAP2420 SoC (core ARM 1136)
- RAM and non-volatile flash memory OneNAND
- Display connected to the remote EPSON frame buffer, OMAP video controller and LS041y3 controller MIPI DBI-C
- Touch screens TI TSC2301 (in N800) or TI TSC2005 (in N810), controlled by the SPI bus
- QWERTY keyboard controlled by the National Semiconductor LM8323 board on the I2C bus
- A memory card connected to the OMAP MMC / SD interface
- Three built-in OMAP UART and STI debugging console
- Bluetooth (R) transceiver and HCI connected to UART
- USB-controller Mentor Graphics "Inventra", built-in chip TI TUSB6010 - only USB-host mode is supported
- Temperature sensor TI TMP105, controlled by I2C bus
- Power management board TI TWL92230C with real time clock on I2C bus
- Nokia RETU and TAHVO multi-purpose chips with real-time clock connected via CBUS

For Luminary Micro Stellaris LM3S811EVB the following devices are emulated:
- The core of the Cortex-M3 processor.
- 64 KB of flash memory and 8 KB of SRAM.
- Timers, UART, ADC and I2C bus.
- OSRAM Pictiva 96x16 OLED with the controller SSD0303 on the I2C bus.

For Luminary Micro Stellaris LM3S6965EVB the following devices are emulated:
- The core of the Cortex-M3 processor.
- 256 KB of flash memory and 64 KB of SRAM.
- Timers, UART, ADC, I2C and SSI interfaces.
- OSRAM Pictiva 96x16 OLED with a controller SSD0323, connected via SSI.

For Internet radio Freecom MusicPal the following devices are emulated:
- The core of Marvell MV88W8618 ARM
- 32 MB of RAM, 256 KB of SRAM, 8 MB of flash memory
- Up to two 16550 UARTs
- Network card MV88W8xx8
- Sound card MV88W8618, decoder WM8750 and mixer
- Display 128 × 64 with brightness adjustment
- Two buttons, two navigation wheels with button functions

Models of Siemens SX1 v1 and v2 (by default). The following devices are emulated:
- Texas Instruments OMAP310 SoC (Core ARM 925T)
- ROM and RAM (firmware image can be loaded with -pflash), V1 (16 and 8 MB), V2 (32 MB)
- Integrated LCD-controller
- Built-in real time clock
- A memory card connected to the OMAP MMC / SD interface
- Three built-in UARTs

Can it be useful for us? What do you think?

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...