The utility, called BlueStacks, is available in an early, pre-beta release right now. And while I've only just started testing it on the Windows 8 Developer Preview slate PC, I was so surprised by how well it's working already that I wanted to get the word out. This thing appears to be the real deal. For example, I was able to easily and seamlessly use the Pulse mobile app, full-screen, on the PC with full touch support.
You gotta check this out. It looks very interesting.
Thanks to Sheldon D. for the tip.