I really love Emperor as an Extreme PROGMetal band. Even parts of the Wrath demo are really good (just terrible sound to it).
I have the feeling that their absence is akin to the absences that Robert Fripp gives King Crimson every so often. I'm sure Ihsahn will develop Emp again, just not in any sonic form it has previously tried. Also, Ihsahn's been taking "guitar lessons" from, of all people, John Petrucci of Dream Theater (not person to person, mind you)