Yay, with reservations.
Emile is beyond excellent when he's in films like Milk and Into the Wild. As long as he keeps doing work of that caliber, he could easily become one of the best actors in his age group.
However, he needs to steer clear of studio films (i.e. Speed Racer) because they are simply not his thing--although to be fair, most of the blame for Speed Racer lies with the Wachowskis. The same goes for James Franco and Colin Farrell. Both are excellent when they do smaller, quirkier films but mess up badly when put into big studio films (except for Minority Report in Farrell's case).