The xmc has not been released so no way to compare as sound is what matters.I can't imagine any Onkyo could ever beat Emotiva at strictly sound, there is no magic in Onkyo sound.
Somif this were going to be for a dedicated theater and not anything to do with music which everyone seems to think onyo does pretty good at, would you still pick the emo? I plan on having a dedicated 2 channel with all separate components once I am in a home. But right now on the streets only got room for the theater.
If your doing HT only I'd say the Onkyo is fine.But....why buy a fancy Onkyo, a cheaper one does just fine, any decent avr from any company can do good HT? To answer your question though, yes I would still take the Emo if it sounds as good as previous pre pros.There have been people on this very site that owned the high dollar Onkyos and tried the Emotiva and said it sounded better.Some people buy based on opinions, I buy based on sound.I encourage anyone to listen to every unit you can, then decide.
Just as a side note.In the last 10 years I have owned an Onkyo 656,777,989,702,805(two of them),605,606,608.Of these the 702 blowed a channel, the 805 burned an hdmi board, the 605 burned out fm radio, 608 burned out hdmi sockets.So...it,s not like they are flawless.Why did I buy em'? they were cheap, why else? I also had several Denons, never one problem, although they still sounded rather blah for music.
Again, it won't effect me one bit what you buy.My suggestion is to take the time to try every unit you can afford, you will learn more than you ever will from opinions.
You're only young once, but you can be immature forever.
#1- Klipsch KLF 20 's -RC7- RS7's - RSW15 - Onkyo 809- Technics A10 -Sony 570 bluray -Sharp 60" lcd.
#2-Klipsch RB5II 's RC7- RB5II's-Twin rw12d's-S/Newcastle 972- Oppo 980HD,PS3,Epson 8350 130" HD
#3 Klipsch Icon VF 36, RC3, SB3, Onkyo 708,-Sony 58x 42" LG Plasma
#4 Cerwin Vega Re-38's 's ,Onkyo 608, Sony dvp985-Panasonic bdp 60- 42" LG lcd.