EMM was offered at Hollyweird a few years ago. You'll get the same reports from current EMM at MK.
EMM is NOT EMH. Thousands of your closest friends are not invited to EMM if they are staying at the correct hotels, and can wake up and travel in time to partake. EMM is a paid, ticketed, event, and it's limited to a few hundred ppl. The issue for you would be that there might be a few extra ppl in line ahead of you for your first few rides after rope drop. Probably no real difference.
If you're wanting to have an awesome experience in Toy Story Land that day, I'm guessing if you booked EMM, it would be the highlight of your trip.
They are not offering it on the Tuesday of my trip in Nov or I would do it in a heartbeat. It was easily the highlight of our trip when it was offered. Pictures in an empty park, doing Toy Story Midway 7 times in a row without getting off, Woody and Buzz dragging us in for pictures because nobody was around for meet/greet, Star Tours was offered as well back than, I have pics of my son and I in the ST theater, front and center, with nobody else in it. Jedi Sign up took about 5 minutes, and only because the ppl in line ahead of us took 3 minutes. If you can swing it, do it. I would consider not taking the whole family if they do not want to get up. Meet them later, let them sleep in. Avoid the cost of the ones who might not be thrilled with the idea.
And then, we haven't even discussed the FOOD! Awesome buffet breakfast included. For us, and many others who have done it, it's a no brainer. I kinda think of it as a Disney priced buffet breakfast, plus and hour and a half in an almost empty park.