BlueStacks is an application that you install on your computer that lets you run android applications just like you would on your phone. I have spent hours playing with this and the potential here is great. BlueStacks is in its very infant stages. This is their first public release of the software and they are calling it an alpha release. An alpha release means that people who install should expect major bugs and report them to the developers so that they will be able to fix the bugs and release a beta version with the focus shifting to finding the minor nuances.
BlueStacks comes with some predetermined applications that you can use or you can install the BlueStacks Cloud Connect application on your android device and sync your applications to your computer for use. There are a lot of applications that you can sync to your computer but then there are some that are simply unavailable and even some that only work with the paid version of BlueStacks(which has not been released yet). Another issue that I have had was that sometimes the application sync on the computer would just get stuck and not sync all of my applications that I told it to. I had to dig around my computer and restart some things and then most of my apps appeared.
The user interface for using the applications on the computer still has a long way to go until it is functional on a long term daily basis. The application goes in to full screen mode even if the application you are using only takes up a slight portion of your monitor. I have had a couple of application crashes also.
In conclusion, I want this to work and I want this to work now. I love the android UI and a lot of android applications and being able to use them on my computer with a mouse and keyboard would be awesome. BlueStacks still has a long way to go but I will be right there testing until it is bug free.