Nexus emulator does not work in eclipse - I get a black screen with emulator nav keys
The error you've included indicates that the graphics driver on your desktop machine doesn't support the GL extensions that the emulator needs. Turn off Use host GPU in the AVD settings.

Without using the host GPU, the emulator will run very slowly, especially if the app you're using is graphics-heavy. The emulator will take several minutes to start Android. You may wish to consider upgrading the graphics card in your computer, to allow it to take advantage of this feature.