It's been a bit of a slow week since I was away for several days, but I did manage to make some noticeable progress. Below is a screenshot of android running on my modified mainline QEMU. It complains a lot, but it does boot. It is completely unusable and obviously still has issues, but it does boot.
To get it running yourself requires some modification of the code as I've not yet added a command line option for specifying the nand device. In hw/android_arm.c, lines 144 and 145 need to be modified to point to the system.img and userdata.img that you want to use.
My priority for this week is to fix the remaining issues holding back a usable booted image and hopefully have an interactive set-up (with fixed graphics) available by the end of the week.
**Note: To get it booting you need the following command line options enabled as well:
-kernel kernel-qemu -initrd ramdisk.img -append "console=ttyS0" -serial stdio -M android_arm