Emulator changes should be a sea change
The Android emulator in 1.x was okay for normal apps but virtually unusable for OpenGL development. Even if you turned on host GPU acceleration it still sucked. So if they're addressing this it should make a huge difference. Personally I found the easiest way to develop was to build the app for the desktop (easy enough with libgdx) and debug it there and only switch to Android (emulation) once I knew it's more or less working.
I have no love at all for IntelliJ. I use it at work, I use it in the Android Studio and I'm fairly proficient with it. But the build / debug cycle is painful compared to Eclipse. In Eclipse you could just hit Run / Debug and it would instantly Run or Debug, and even in-place edit code. In Android Studio / IntelliJ it prefers to farm out the build to an external builder like Gradle. Gradle takes so long to start you have to run it in daemon mode and even then it might taken 10-20 seconds to build / run something which is virtually instant in Eclipse. And if you edit the Gradle script you have to resync everything. That isn't to say I hate Gradle for other build lifecycle tasks but for trivial Run / Debug iterations it's a pain.