Can you move the Emory ED1 to ED2? It decreases your odds a bit, but there still is a realistic shot there. It would give you longer to make up your mind.
My two cents is that you are deciding for social reasons to go to UW-M, but UW-M still is a very good school. My son got into Emory as ED1 and also got into Indiana (Kelley School of Business), UW-M School of Business, U of Miami business, and Tulane. It was purely an academic decision. Of course, the weather and the beautiful Emory campus are a huge plus. He’s a huge sports fan, but placed zero value on that aspect of going to college. You have to separate that . . . unless you don’t.