Recently, I happened to find a kind of smart and inexpensive Emulator which may be helpful for your project development. The relevent description is as blow:
Emlink for ARM is a new-generation high-speed real time JTAG adapter, debugs the ARM Cortex-M3 processors through Realview MDK or EWARM. Emlink connects the JTAG interface from target board (ARM processors) to PC USB port, supports source level debugging and Flash programming.
Emlink allows you to:

Download programs to memory.

Examine memory and registers.

Single-step execute in the source level.

Insert multiple breakpoints.

Run programs in real-time.

Program into on-board Flash.

I hope this information can be useful for you. Oh, for more details on this Emulator please visit http://www.embedinfo.com/en/index.asp
http://www.embedinfo.com/en/list.asp?id=42