I abandoned the idea to use WM5 emulated with sdk.
I tested it for several days without satisfaction.
With all the settings tuned right it is slow and heavy for a P3 with 512MB.
Do no spent time trying to use device emulator...use your time to increase RR functions
If anyone needs informations or batches or config files to emulate, please feel free to contact me.
Ciao, Luca