psxphill, I've just finished looking through this entire thread, and noticed you said before you'd worked on software-based emulation (guessing for the PSX, judging by your name). As this means you should be familiar with programming, I'll try and explain my point using a programming analogy.
In object-oriented programming you have, amongst other ideas, the concepts of classes and objects. Classes describe the features of an object (variables used, methods allowed, whether the class is a member of a larger class, etc...), whereas objects are instances of a class, they are the items built by following the specifications in a class.
To me, Amigas are a class of computers, and the objects we use follow the specifications laid out in this class, to varying degrees. The A500 is an object that follows this spec, the Minimig is also an object that follows this spec. They are both implementations of the design ideas of the Amiga.
In my opinion, which is shared by many, emulation requires translation. Not translation from a design spec (class) to a computer (object), but translation from one object to another, fitting the code designed for one computer into the constraints of another.
Re-using the word 'emulation' when describing these devices does not capture this difference, which is why 'implementation' is preferrable.