I've been using some EMS stuff for the last 3 years or so now, and I have to say that I find their products to a be a little bit hard to read sometimes.
Overall, they do make pretty good things for the money, but I do think that you get what you pay for to a certain degree also. I actually have EMS ski pants with the same System III membrane that's in the Wildcat Ridge coat, and they have been pretty good so far (I bought these for the same reason you are looking at that shell, since I didn't want to blow over $200 on a pair of pants last year when I really needed to replace my Columbia Vertex's).
Meanwhile, I also have a Thunderhead coat with the System 3 membrane that I'm nowhere as enthusiastic about. If you want to get that shell, I'd say go ahead and do it, but I recommend you wait a few weeks. EMS usually has a "upgrade your technology" sale in both spring and fall where you can get 20% off everything. That'll drop your price down to near $100 (at that point, if you end up needing a better coat at some point in the future, it won't be too big a deal).