Progress, with a Video!
At first I tried to use recordmydesktop, but that doesn't seem to play nice with the compiz window manager. So, I found a nice, uncomplicated, picture format (TGA) and modified the user interface to write a screenshot to a file ten times a second (albeit upside down). The user interface, incidentally, is a separate process from the emulator and accesses the files that contain the memory of the emulated RPC directly, much like a real VIDC chip.
Using mencoder, I produced the following video; it's probably best to watch it in fast-forward since it takes 40 seconds to get to the desktop and I'm not the fastest typer, either!
The upload to Blogger seems to have scaled it down 50% and reduced the quality considerably, though. The screen looks a lot better than that in use.
The command line I used to generate the movie was this:
mencoder mf://*.tga -mf w=640:h=480:fps=10:type=tga -ovc lavc -lavcopts vcodec=mpeg4:mbd=2:trell -o /tmp/screen_cap.mpg -flip