I googled for 5 mins. I also searched for '5037' in all files in android sdk directory. I am a budding android developer and if there is no easy way of configuring adb to run on another port then I am ***king quitting android app development.
                +2 
                A: 
                
                
              
            adb tcpip <port>             - restarts the adbd daemon listening on TCP on the specified port
                  I82Much
                   2010-10-01 14:29:46