Like others here, I find it difficult to just choose one of the categories, so I've voted for both.

Emulation is extremely handy when it comes to grabbing screenshots for the main site, so I often tend to use WinUAE for this task. It's fast and efficient and I don't have to copy the files from one machine to another. Also, the fastest Amiga I have is an Amiga 1200 with Blizzard MKIV 68030 accelerator card. This card mostly gets the job done, but with demos requiring more memory and better CPU, WinUAE is my only option.

On the other hand, nothing beats the experience of using a real Amiga. These days I'm enjoying my new Amiga 600 with a CF adapter and 1MB of extra memory. It's hard to describe, but whenever I use a real Amiga, computing is fun again. So whenever I use the 1200 or the 600 (or the CD32), it's always a blast.