I'm testing several modifications of Cyanogen MOD ROM's. It's not really comfortable to test them on real device. So the question: is it possible to install custom ROM (in particular CyanogenMod) on standard (or non-standard) Android emulator?
Run the Android SDK Manager and in menus, navigate to Tools->Manage Add-on Sites. In the window that opens, click the User Defined Sites tab and click the New button.
Enter the following URL:
http://nushio.fedorapeople.org/cyanogenmod/repository.xml
After installing it and refreshing the packages list, you will find CyanogenMod-Kang Emulator in Android API 9, revision 3.
Install and enjoy!