Greetings again, Capricorny.

I admit to being a Luddite, opposed to learning anything new unless
or until it is absolutely necessary. But,

My impression is that a qemu approach WITHOUT hardware acceleration
is a poor alternative to that of making a LiveCD to accomplish the
same purpose. The same purpose being the eventual production of a
LiveUSB derived from a downloaded iso. The time and cost of making
an interim LiveCD product are rather minimal, and for the most part,
already automated.

A qemu approach WITH hardware acceleration seems a much more complex
approach than the "poor-man's install" alternative which I understand
Klaus K has recently provided 7.4 which also makes an interim LiveCD
unnecessary. Below is my slight edit of Klaus K's 7.4 release notes**
almost subliminal advertisement of this new feature:
The flash-knoppix script since Knoppix 7.4.0 supports on-the-fly conversion
of a DVD ISO image for direct flashing of a USB pendrive or disk. By using
this, the intermediate step of burning a DVD and booting from it, can be
skipped. For burning a
CD- or DVD-size LiveUSB,
only one single .iso file matching your
language and version choice, is sufficient. For using this feature, just add
the name of the .iso file as commandline parameter to flash-knoppix like this:
flash-knoppix KNOPPIX_V7.4.1DVD-2014-09-28-EN.iso
And, of course, update 'V7.4.1, etc' as appropriate.

**See for example, http://knopper.net/knoppix/knoppix742-en.html