Yesterday Google launched an early access preview of Android Studio, an integrated development environment (IDE) for Android based on IntelliJ IDEA. This one-stop shop for coding, compiling, and testing includes all the standard Android SDK tools, plus build support, quick fixes, tools to catch major coding flaws, and a preview window. The Android Developer Tools session at Google I/O went into massive detail on the new project. The 53-minute session is embedded below, in case you couldn't make it.
One of the cooler features of Android Studio is the multitalented preview window, which shows your code running on mock-ups of most of the standard Nexus devices in a real-time layout.