If you haven’t heard already, the Jan 2011 update of the windows phone 7 developer tools is out, er, in Feb. You can download the installation files from here,
http://www.microsoft.com/downloads/en/details.aspx?FamilyID=49b9d0c5-6597-4313-912a-f0cca9c7d277
The performance increase with the new emulator is clearly noticeable and the first time deploy is real quick! The emulator image should also be a precursor to the windows phone 7 OS update that we’ve been waiting for ever. The emulator image includes copy-paste functionality which is enabled by default on all textboxes, password boxes and edit controls within web browser control, so existing apps get this feature for free. Go ahead and give the new tools a try. If you want to experiment more you might be interested in a unlocked emulator image, follow the link for more information.
http://windowsphonehacker.com/latest_windows_phone_7_emulator_unlocked-02-05-11.php