When I toured Emory I was told in the information session that the average GPA of the approx. 70 kids invited for the Emory Scholars interviews (all get either full tuition or tuition plus room and board for all 4 yrs) was a 3.9 uw and the average M/V SAT was right around 1500. In addition to those kids however, 100 or so get great scholarships as well.
My D ended up with a great scholarship but I think it's impossible to say what exactly the committee was looking for. My D said that it was a pretty divierse group of kids for the finalist weekend so I don't think there is any magic formula that gets you to finalist status.
With your stats, you should definitely pursue the scholars process -- you have an excellent shot, just keep in mind it is very competitive. It is a great program and many students turn down other top U's to paticipate in it.