I found this forum on accident and read an archived thread with the same title as this one. There was no consensus overall in the thread and many good points were made in the argument. It was interesting. My contribution (though late) would be to say:
Despite the medium through which results are delivered (physics, hardware, software, etc…) a simulator produces the exact same expected results and an emulator is differentiated by also producing the exact same unexpected results. Oh to Error!