EMP's are incredibly engineered weapons. I carry the Glock 30 on a day-to-day basis and prefer the .45 but the EMP is on my list of guns I have to own in 2009. A friend let me put about 100 rounds through his and once I'd put the first two or three mags through the EMP and figured out the best way to wrap my meathooks around the gun without getting in the way of the slide or the muzzle, I found it to be just like every other 1911 I've ever carried. I can cover the thing with my hand and put five rounds in a playing card size area stat at gunfight distance. Coming in at $1,000, they're a bit pricey, but I have yet to buy a gun that I'll ever sell. Guess that makes the Pythons and S & W K Series from my pre-teen days excellent bargains!
My Kimber's are in .45 but they're great 1911's, as is a Taurus 1911 I picked up from a classified ad, and even the rock-bottom priced High Standard I recently ordered. They're such well-designed weapons that as long as someone sticks to the basic blue-print, they're going to produce a fine weapon.
I haven't fired the EMP in .40 but want to soon. If you're not locked into the 1911 style, take a look at Springfield's XD in 9mm in an ultra-compact model. I keep one in the car for emergencies and you have the option of hanging a light under the front.