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Others inquiring about AXI support should read this:
http://www.alterawiki.com/wiki/axi_support Note that AXI support is beta in 11.1 so expect some pointy edges.
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I'm not afraid to bleed ... :)
There's an inconsistency in the release notes though:
http://www.altera.com/products/software/quartus-ii/whats-new/swf-qts-whats-new.html Which states there is an "AXI® bus functional model (BFM) beta".
whereas the Wiki states "There are no AXI bus functional models (BFMs) provided in this version".
I'll download v11.1 and see which comment is true ... unless of course you know the answer off-hand ...
Cheers,
Dave