The tool should also output a qemu.conf file that can be consume by the runqemu script, so all BSP details should be place there instead of using command line arguments. This bug may block https://bugzilla.yoctoproject.org/show_bug.cgi?id=10473 but we need more investigation.
This enhancement should be a importance/medium and its work need to be reconsidered starting the 2.5 period.
yocto-bsp will be removed starting M1, so this becomes obsolete.