In the Microsoft Device Emulator V3 (note that this installs in and over-writes the previous "\Microsoft Device Emulator\1.0" folder), using Windows Mobile 5, the help you get when typing "deviceemulator" with no parameters is pasted below. The first thing it states is that message about memsize. I tried it with values > 256 MB and just throws up the help dialog box. I was messing with this when trying to get it to recognize my /sharedfolder as a storage card. Maybe this will be possible in newer device emulators. If I can get it to work I can test placing an SDF file on the card.
Device Emulator
Memory size must be a value between 64 and 256.
Command Line Option Help
binfile - Filename of the binfile to be loaded by the emulator.
@responsefile - Filename to XML response file.
/a - Keeps emulator window always on top.
/battery - Emulates running from a battery instead of AC
/batterycharge percentage - Emulated battery charge percentage
/c - Creates and displays a console window to show output from Serial Port 1.
/cpucore - ARMv4 or ARMv5. Default is ARMv4.
/cpuoptions - A combination of (T)humb,D(ebug),I(nternetworking),M (Long Multiply),E (DSP). Of these, T,D,I will always be set.
/defaultsave - Use the VMID as the saved state name and place the saved state file in the per user directory.
/flash filename - Enables flash-memory emulation and specifies flash-memory storage filename.
/h - Sets host-only routing for network packets.
/hostkey keyname - Specifies host key, where keyname can be 'None', 'Left-Alt', or 'Right-Alt'.
/language LangID - Specifies the UI language, where LangID is a decimal.
/memsize size - Sets emulated RAM size, where size is in megabytes.
/nosecurityprompt - Do not prompt when enabling potentially unsafe peripherals when restoring from saved state.
/n [macaddress] - Enables CS8900 network adapter where optional macaddress specifies which host adapter the card will bind to.
/p [macaddress] - Enables NE2000 PCMCIA network adapter, where optional macaddress specifies which host adapter the card will bind to.
/r address - Specifies ROM file base address(in hexadecimal).
/rotate angle - Rotates the display by degrees, where angle can be 0, 90, 180, or 270.
/s filename - Specifies the save-state filename.
/sharedfolder directoryname - Mounts directoryname as a storage card.
/skin filename - Loads the specified skin file.
/tooltips state - Enables or disables tooltips, where state is 'ON' or 'OFF'.
/u0 serialport /u1 serialport /u2 serialport - Maps guest serial ports 0-2 to Windows serial ports.
/vfp - Vector Floating Point coprocessor: true or false. Default is false.
/video xx - Specifies screen size and bit-depth.
/vmid {GUID} - Specifies the VMID GUID.
/vmname name - Specifies the window title.
/z - Zooms the display to 2x normal size.
/speakerphone - {[SpeakerPhone][Headset][Carkit]} - Bitmapped number between 0-7 specifying Speakerphone, Headset, Carkit mode.
OK