I successfully set up a current Raspbian (Jessy) with Qemu. But I really need a soundcard. I'm not sure, if the Sound Chip of the Pi is supported by Qemu?
To boot I use the Kernel from https://github.com/dhruvvyas90/qemu-rpi-kernel
I start the emulation with:
qemu-system-arm -kernel kernel-qemu-4.4.34-jessie -cpu arm1176 -m 256 -M versatilepb -serial stdio -append "root=/dev/sda2 rootfstype=ext4 rw" -hda raspbian.img -net nic -net user,hostfwd=tcp::2222-:22 -soundhw es1370
I also tried different QEMU_AUDIO_DRV (Win: dsound, Linux: pa, oss, alsa). But after all there is no sound card available.