The old bond out chips - special chips with lots of extra pins from internal signals, doesn't really exist anymore.

So the traditional emulator, where you put on a very expensive pod cable between target hardware and the emulator, is a concept that have died.

Instead, todays chip have debug features integrated into the standard chip, and then uses JTAG, BDM or similar to interface with this debug hardware. So the JTAG interface is just an electrical interface, optionally with logging traceback memory. The great thing with this is that if the PCB have suitable pads, it's possible to just pick up a product from the factory production line and interface with the debugger, instead of building a special socketed board, or unsoldering the processor and use a nail adapter to interface with the processor pads.

So we should be happy that we don't need any ICE anymore. ICD (In Circuit Debugging) is much cheaper than ICE (In Circuit Emulation). Of course, the capabilities will be greatly affected by the amount of ICD hardware in the used processor instead of being related to the amount of debugging feature in the very expensive ICE box and interfacing with the very expensive bound-out processor.

But in the end, people should consider saying ICD instead of ICE when claiming the use of a hardware debugger but debugging with the standard processor still mounted on the PCB.