Hi,
I am using SDF Community Edition and VS2005. When I start Windows Mobile 5.0 Smartphone emulator, I don't see any WiFi cards listed out there. Microsoft Virtual PC has been installed on my machine and I am able to browse the Internet on Pocket PC via Internet Explorer (File-> Configure->Network->Enable NE2000 PCMCIA adapter and bind to "Connected Network Card").
However, Settings->Connections does not show any WiFi card.

Any help/thoughts?

 This is by design. The emulator does not emulate wireless network adapters.

Neil,
So the best way for me to build wireless applications using SDF Community Edition is buy the device and test on it?

Correct.