The way it's worded, it sort of sounds like it's enabled by default, especially since r17 included "experimental" support for GPU emulation that had to be enabled manually (I couldn't get it working). It still needs to be enabled manually with the 'GPU emulation' AVD property, except this time I got it working. :-D
I would really like to see GPU emulation expand to the other platforms so I can test my apps more thoroughly with minimal frustration. Honeycomb is notorious for having an incredibly laggy emulator and 2.x has quite a bit of lag as well.
Ubuntu 11.04, Athlon 64 X2 4200+, 9800GTX+