FB: closeColorBuffer cb handle 0xb not found:Host GPU is only supported for AVD devices that are using API 15 or later. You also have to have Android SDK Tools 17 or later installed. Also Host GPU is experimental. All of this is in the emulation documentation:
If you cannot take advantage of Host GPU then use the Snapshot option instead to gain some performance boost. This will take a snapshot of the ram on the initial start of the emulated device and then reuse it on initial boot start ups of the device.
Android Emulator Slow:
During AVD creation, need to choose option Use Host GPU if the using API is 15 or higher. Or need to go for Snapshot option instead to gain some performance boost.