Yesterday I was surprised when discovered that,... ehm, well... I'm such a newbie in this... that most routers using MIPS not ARM CPU as I thought before
Since that, I've also tried to look at MIPS in QEMU. There is even less information about this, though debian to help
I was surprised I've missed it last time when doing experiments with qemu-system-arm, but now it's very helpful with qemu-system-mips.
I used aurel32's page as a start point: http://people.debian.org/~aurel32/qemu/mips/