In my case, i'm using API 15 and vbox_x86 Env.
in your AOSP_HOME
@bgpark:ics$ . build/envsetup.sh
@bgpark:ics$ lunch vbox_x86-eng
@bgpark:ics$ make -j12
I think you already know this one.
add some jar files.
for example, we need 2 shared jar for Settings project.
add guava_intermediates\classes.jar by add External jar and change reference order.
now you can build without any problems.
You will need this article for run your core app with appropriate authority.
http://stoned-android.blogspot.com/2012/01/sign-your-apk-with-platform-key-for.html
