I haven't physically touched one but I have heard from a few people that have. Their review of it was usually "pretty good" or something along those lines. In other words, I got the impression that it was a good knife but didn't WOW! them enough. Of course these guys are certified knife nuts, so it takes quite a bit to impress them.
For the money, I'd probably just go ahead and get an actual Emerson instead.
I have played with a several Emersons, but they haven't impressed me enough to buy one yet. My boss has a Commander and I can't tell that I like it much more than my CRKTs. So I just can't justify spending that much more on an Emerson yet. I think if anything MOD knives have caught my attention more than Emersons.
--Jason