Here's how I see EMD's right now. Previously they were good for a boost.
Currently they are good for a boost, with a caveat. It seems the way Google has chosen to handle EMD's is two fold:
Give Brands a boost after time and enough brand signals
Lower the over-optimization threshold on EMD's for that term and related ones
While people who know exactly how to dial in the on-and-off page SEO might be able to extract maximum value out of an EMD, I don't see it as out-weighing the brand benefits for a longer term or larger site.
For a smaller site I'd still consider it entirely depending on the competition. It needs to be low for me to use an EMD.
You get less leeway in terms of anchor texts on on-page signals before it's obvious you're an SEO who's manipulating. And less of those means less ranking power. It balances out the keyword in the domain for the most part.