The binary available at "xilinx.com/member/zynq_linux/zynq_linux.tar.gz" contains both a qemu-system-arm and a zynq-linux kernel. They're a bit dated, but work very well in combination.
The latest sources available from xilinx via github, in combination with zynq kernels available for download (releases 14.), not so well. Best case is the prompt with networking non-functional. Worst case is a hang during boot.
The sources used to build the aforementioned fully working qemu seem to be based on a branch of qemu that was removed when the repo was moved from xilinx.com to github. The branch was called qemu-xarm.git
I'm asking if it might be possible to have access to these sources to assist in debugging the currently available sources.
It's true, the QEMU repo does not get all the attention it should get, but things aren't that grim either. The 'xilinx-master' branch on github works with the 14.6 images including network (at least ssh worked for me, so I consider it working. I followed the instructions from the wiki http://www.wiki.xilinx.com/QEMU ).
I'll try to get a 14.6 tag pushed to the QEMU repo, which should make things a little easier to synchronize with our Linux repo.