1. A reconfigurable cable/pod unit for coupling an emulation unit with a target processor; the cable pod unit comprising a first cable portion for coupling to the emulation unit; a second cable portion for coupling to the target processor unit; and a pod unit coupled to the first cable portion and the second cable portion, the pod unit including: a programmable unit, the programmable unit assigning functionality to the conductors of the first and second cable portions; a discrete logic unit responsive to the programmable unit for receiving timing and control signals from the first and second cable portions, the discrete logic unit applying logic and control signals to the first and second cable portions; and an interface unit responsive to the programmable unit for receiving and retransmitting data.