Hi,
It should be possible.. the German Elektronic
Magazin "Elektor" has had a Project with a
simple Gameboy as oscilloscope. Looks great.
It should be no problem to convert this Z80
based Project to a 8052 Project.

You´ll find the Elektor Homepage at :

www.elektor.de

or in the Elektor Magazin :

GBDSO (I) 10/2000 at Page 14 and
GBDSO (II) 11/2000 at Page 70

I´ll hope that helps

have fun :-)

Stefan