Here's a end-of-cycle write up for Versatile Express support in QEMU: https://wiki.linaro.org/WorkingGroups/ToolChain/Outputs/QEMUVersatileExpress
Most of it is taken from Peter's page: https://wiki.linaro.org/PeterMaydell/QemuVersatileExpress
which is the place to go if you want the current state and more detail on the steps involved.
While writing this up I had a seamless experience from the first linaro-image-create until seeing the alpha3 greeter come up and wobbling the mouse around. It was awesome.
Some ideas for other write-ups at: https://wiki.linaro.org/WorkingGroups/ToolChain/Outputs
-- Michael