The competitive products between AV123's Emotiva line and the Outlaw line appear to be:
Emotiva LMC-1 = Outlaw 970
Emotiva LPA-1 = Outlaw 7125
Nothing = Outlaw 990
Emotiva DMC-1 = Nothing
Emotiva MPS-1 = Outlaw 7700
At the low end, I think the LMC-1 + LPA-1 bundle is more attractive because it saves several hundred dollars to the 970/7125 bundle, without much loss in feature set, especially since the LMC-1 can add digital video switching for $100. Unfortunately, the Emotiva UL gear is not shipping yet.
Midrange, The Outlaw 990/7125 bundle is quite nice, and there isn't an Emotiva combo to compete with it. But you might need more watts. So the 990/7700 combo is also good. But, at that point, you're also closer to the Emotiva Big Dogs combination.
So at the top-end, I think there's a trade-off between the Emotiva Big Dogs DMC-1 + MPS-1 and the Outlaw 990/7700. The DMC-1 might be considered to have better processing, being based on the Sunfire platform versus the 990's Sherwood platform, but it doesn't have the DVI switching or microphone calibration that the 990 does (I don't think it does mic auto-calibration). The MPS-1 can also be purchased with less channels and then expanded to more if you need to. And right now, AV123 is also having a bit of a sale, so the price differential decreases further.
So I don't know which way I would go at the top-end. And since the high-def format wars are going to continue for a while, but probably be worked out by end of next year, I might not be interested in a top-end system right now.