I'm going to hijack this thread, if that's alright.
I have the same problem, along with a buzzing sound that starts about halfway into the bootup screen with the text "Android _" on it that continues. I tried muting the sound, but that didn't fix it, so I'm not exactly sure what's buzzing.
I'm using Eclipse, and in the Android Launch preferences for the emulator, I have -noaudio and that didn't fix the problem. Does anyone have any other ideas?
Software:
Eclipse Java EE IDE for Web Developers. Build id: 20090920-1017
Android SDK 2.0 and 2.0.1. My Project Build Target is Google APIs 2.0 (should it be Android 2.0?)
Thanks in advance for any replies.