My memories of Aquamacs are full of fighting with the thing to do what I wanted. It was overriding everything I customized in my .emacs.

About the only positive thing I found about it was the ability to run in full-screen mode (something that ntemacs is still unable to do).

Indeed. But it's not like using Emacs on any other platform.

OK. I do not use it myself. But my fiancee has a Mac and seems quite happy with Aquamacs. (She used Emacs on Ubuntu before for some time, to do LaTeX with.)