This post has already been read 7657 times!
Once you have build Android on your Mac OSX (I have Leopard) following the Google directions, it’s time to start it. This wasn’t as easy as it sounds, as I couldn’t find any docs that talked about this, except for this page that talks about the emulator in the SDK.
In your droid repo directory, this will start the emulator:
$ out/host/darwin-x86/bin/emulator -system out/target/product/generic -kernel prebuilt/android-arm/kernel/kernel-qemu
From there, you are back to working with it just like in the SDK.