Can't see them going for older 747s 200,300, or 400 series. They are just to old and thirsty in comparison to the 777, 340-600 or 747-800. Availabillity of 777 is a problem and the 747-800 has not been built yet and who knows what problems Boeing may have with their build program.
EK obviously still want the big bus (they did order 45 afterall) so it's a matter of extracting compensation and replacement aircraft out of AB.
If the 340-600s are still available EK will have to go for them, minimal training and minimal spares and engineering equipment will be required etc