I've got a crashing bug in my current Android app project when the screen reorients (switching from portrait to landscape or vice-versa) and I thought I'd have to resort to a live device for debugging, as the emulator doesn't have any visible controls to affect orientation. But dig a little deeper, and:

http://developer.android.com/guide/developing/tools/emulator.html#controlling

Bingo! Shortcut keys for almost everything I might want to do!