There are important features of Emacs which are missing in Vim, such as the comint mode, and there are no scripts/plugins which can replace them.
There are also benefits
I'm a regular vim user but not an emacs user and haven't used vimpulse
to confirm this.
But browsing the vimpulse code below I see no mention of text objects.
http://www.emacswiki.org/cgi-bin/wiki/vimpulse.el
Vim introduced some very useful idioms for selection and movement that aren't in regular vi
cat
'cut around tag' for xml/html tagsdiw
'delete in word'di(
di"
delete text within a ""
()
etc.in the vim help see :he
text-objects for more.