Not sure about the emlube 'not being the saving grace' in this incident, it certainly played a part.
Without doubt, this was a particularly nasty failure in the MGB and could, in itself, have led to a very different outcome.
No oil pumps = no oil pressure = no MGB lubrication. My point is that emlube does what it says on the label and provides limited lubrication (and some cooling) to the GB, without it we run the additional risk of an MGB seizure, and that would definitely have resulted in a very different outcome.