I am a college student that has fallen in love with Emacs. I have used IDEs in the past, and although features like Intellisense made the switch to Emacs very hard, I now think that Emacs is much more powerful, and features like Intellisense can be pretty closely matched by various modes depending on language (and I am not referring to M-/). I am happily writing Elisp code for everything that I need that isn't provided by modes or by Emacs itself and I love the way that it adapts and molds to my needs.
However, I do think that its main disadvantage is the fact that it has a pretty steep learning curve and that most new programmers will not even begin to learn it out of many common misconceptions.
So, I want to know the opinions of young people (or any person who didn't start using Emacs before there were IDEs) that are Emacs users. Just to get some reassurance that Emacs is not dead within our Eclipse-loving generation =). (Opinions of users of any other highly extensible editor like Jedit are also welcome)