Emeril is, IMHO, okay but nothing exciting. Martin Yan is fun by himself. Put them together and you have a cooking comedy team. This show is a riot. Yan normally uses his food as "straight man," but when he's got a live human being for a straight man, it makes for some of the funniest television I've seen in years. Even wilder, he makes Emeril look like an amateur home cook.
If you can see this show (I'm watching it on the east coast feed; it should be airing at 3pm on the west coast), do.