It was extremely slow on my 8 core xeon Mac pro with ten gigs of ram. I got to see a little of the ui up close and it wasn't pretty to me at all. Maybe the whole package will look good together, but the individual components didn't look too sharp
On my i7 Win7 laptop with 8G RAM it isn't exactly fast - but it is borderline acceptable. Core2 should not be drastically different - have you tried increasing the default RAMSIZE from 96Mb to say 256Mb?
Because the Android emulator must simulate the ARM instruction set architecture on your computer and the WXGA screen is significantly larger than what the emulator normally handles, emulator performance is much slower than usual.
In particular, initializing the emulator can be slow and can take several minutes, depending on your hardware. When the emulator is booting there is limited user feedback, so please be patient and continue waiting until you see the home screen appear.
We're working hard to resolve the performance issues in the emulator and it will improve in future releases. In the meantime, we wanted to give developers access to new APIs and an basic test environment as early as possible.
Keeping in mind that performance on the emulator does not reflect the speed or performance of apps on actual devices running Android 3.0, developing and testing on the emulator is still an important tool in evaluating your application's appearance and functionality on the new platform.
The emulator is painfully slow even when dealing with the basic android 2.3 UI - I think there is going to have to be some SERIOUS optimization done on Google's side before it's able to run this Graphic/Effect driven tablet UI.