You have not rained on the parade.
Emulators cannot emulate a machine in a clock for clock, perfectly synchronized manner. Even if all hardware is perfectly emulated in software, there is latency inherent in the host system. One of the wins of the C-One is a perfect clock-for-clock replica of the target system. I don't say emulation here as it is not emulation - it "is" the target system, in hardware.
There are still bugs to iron out, but this is where it will end up.
blakespot