With the growing complexity in consumer embedded products and the improvements in process technology, Multi-Processor SystemOn-Chip (MPSoC) architectures have become widespread. These new systems are complex to design as they must execute multiple complex applications (e.g. video processing, 3D games), while meeting additional design constraints (e.g. energy consumption or time-to-market). Moreover, the rise of temperature in the die for MPSoC components can seriously affect their final performance and reliability. Therefore, mechanisms to efficiently evaluate complete HW/SW MPSoC designs in terms of energy consumption, temperature, performance and other key metrics are needed. In this paper, we present a new HW/SW FPGA-based emulation framework that allows designers to rapidly extract a number of critical statistics from processing cores, memories and interconnection systems being emulated on a FPGA. This information is then used to interact in real-time with a SW thermal model runni...