Emulation software

I am trying to create an emulator for my FEZ Mini, and FEZ Domino projects, and the only reference materials that I have are out of date. When I start the emulator project, I get a warning from my VS 2010,

Warning 1

The reference assemblies for framework “.NETFramework,Version=v4.1” were not found. To resolve this, install the SDK or Targeting Pack for this framework version or retarget your application to a version of the framework for which you have the SDK or Targeting Pack installed. Note that assemblies will be resolved from the Global Assembly Cache (GAC) and will be used in place of reference assemblies. Therefore your assembly may not be correctly targeted for the framework you intend.

MFEmulator1

My reference materials are from the book Expert .NET Micro Framework, by Jens Kuhner, 2008. When following the book, this is unexpected warning for me. He is using 2005 VS, and I don’t know how current the information is. My questions are as follows:

  1. Is there something else I need to install to create my own emulator?
  2. Do you have an emulator already built?
  3. Is there a set of instructions here to build my own emulator?

I am content to work this out if I have to, but I would like to either not re-invent the wheel, or if I do, I would like to know of any thing that might help me.

Skewworks has build an custom emulator (http://www.tinyclr.com/forum/1/796/#/4/ )
Maybe you will find some info on his Pyxis2 codeplex site

I think Skywworks is working more on this too so you may want to work with him on it.