When comparing YouWave vs ARC Welder, the Slant community recommends ARC Welder for most people. In the question“What are the best ways to run/emulate Android on a PC?” ARC Welder is ranked 5th while YouWave is ranked 19th. The most important reason people chose ARC Welder is:
Even though it's a developer preview, it's likely to evolve quickly as Google is developing it. Since Google is also behind Android, it makes sense to use a more official way of running APK. If they don't work, you may check with the developer so it may eventually work.
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Pros
Pro Allows dynamically switching between landscape and portrait views
Pro Multiplayer gaming support
Pro Runs on Windows XP/Vista/7 (32/64 bit)
Pro Can simulate SD cards
Pro Can transfer images easily
Pro Developed by Google
Even though it's a developer preview, it's likely to evolve quickly as Google is developing it. Since Google is also behind Android, it makes sense to use a more official way of running APK. If they don't work, you may check with the developer so it may eventually work.
Pro Cross-platform
Works on Chrome 41+ on Windows, Mac, Chrome OS and Linux.
Pro Allows running apps in a Chrome web browser
It installs as a Chrome App and runs on most operating systems (Windows, Mac, Linux, Chrome OS), even thought x86 support will be put in maintenance mode soon.
Cons
Con Discontinued
Discontinued after December 2020.
Con Not all Google Play services are yet supported
ARC Welder supports OAuth2, Google Cloud Messaging , Google+ sign-in, Maps, Location, and Ads APIs from Google Play services.
Con Only supports "arm" apk files
"x86" apk files don't work as of 20150422.