Have you tried Silver 6.2 yet? Let me know in the comments what the first app you emulated was. (Mine was Age of Empires for Pocket PC.)
For enterprise users: This version fixes the dreaded "Activesync disconnect" loop. You can now physically plug in a legacy Windows Mobile device (via USB passthrough) or map a virtual COM port to modern test software. Syncing your Pocket Outlook has never been more stable. silver 6.2 for windows
Older versions struggled to render the fancy 3D transitions of the HTC Sense interface (the "Flip Clock" and weather animations). Silver 6.2 introduces DirectX 12 back-end rendering. For the first time, you can run Manila 2.5 at a smooth 60 FPS. It is a mesmerizing trip back to 2009. Have you tried Silver 6