Don't you wish that Visual Studio 2005 had an emulator target for Windows CE 5.0 ? - voila! - Just released on MSDN is the Device Emulator: ARMV4I BSP for Windows CE 5.0 - this gives you the ability to generate an operating system image from Windows CE 5.0 (using the Microsoft DeviceEmulator: ARMV4I BSP [which gets installed with the emulator package]) - The emulator shows up in Visual Studio 2005 and can be used as an application development target.