Chris: I don't remember you reporting that the usermode emulator took that long. Will you please enable all the same debugging options and compare the run times.
Ok, I will have a second try with enabled debug XEMU_trace_on()
As I say, I'm not sure if I wait long enough :D
Unfortunatly, I can't find the debug stuff for "testbios" Is there any or is it done via parameter like --debug
chris