http://linuxgazette.net/178/silva.html
vnc - standard, remote display and keyboard / mouse input
local sdl window - fast, local only window;
(1) Remove default VNC display
(2) Add new graphic device using "local sdl window"
(3) Edit the /etc/libvirt/qemu.conf, and get qemu-kvm to run as your user:
user = "ansilva"
group = "ansilva"
(4) Restart service
service libvirt-bin restart
Now, launch the guest from Virtual Machine Manager and open the display.
NOTE: Unlike vnc, if local window is closed, guest will be down. This window is the emulator application.
(5) Protect the window from accidental closing
Pass command line argument "-no-quit" to emulator, by editing XML configuration with 'virsh edit [domain]' and replace / add lines below:
<domain type='kvm' xmlns:qemu='http://libvirt.org/schemas/domain/qemu/1.0'>
......
<qemu:commandline>
<qemu:arg value='-no-quit'/>
</qemu:commandline>
</domain>
See Configuration for passing command line argument in configuration file.
(6) Hot keys while working with SDL window
ctrl-alt-f : toggle full screen
ctrl-alt-u : original size