There is nothing that will make any current phone as this time of writing play Dolphin without framerate or graphical issues.
There is no way around that. None. Nada. Zero.
This *may* change when Qualcomm ships their 820 SoC, but will only change if they end up providing 3.2 GLES support in their drivers. Correct support at that. One can also hope that they'll provide 3.2 support for their older SoCs, but with how bad mobile driver support is, don't get your hopes up.
There is no way around that. None. Nada. Zero.
This *may* change when Qualcomm ships their 820 SoC, but will only change if they end up providing 3.2 GLES support in their drivers. Correct support at that. One can also hope that they'll provide 3.2 support for their older SoCs, but with how bad mobile driver support is, don't get your hopes up.