With i5 3500K you can only use ARM based emulator instead of Intel's x86 emulator, which is 10~20 times faster (I think i5 misses these CPU extensions: EM64T, Execute Disable (XD) Bit), see here for x86 emulator support requirement.
For solve your speed issue, I would strongly recommend using Genymotion, it provides fast x86 emulators with Eclipse integration, and I have not encounter any issue with it for the time I've been using it.