Alex,
I'm afraid that the one advantage that EMA has over BHX - runway length - will be scrubbed out from Spring 2014 when the extended runway at BHX is ready. This will make BHX, with it's greater catchment area plus the ICC and NEC with it's many international events attracting inbound travellers a much more attractive for any long haul carriers that can be persuaded to look beyond London, or Manchester as gateways.
EMA needs "proper" scheduled airlines interlining at principal hubs - something that BMI Baby never offered. Their demise has resulted in FlyBe, that does offer interline facilities through Amsterdam and Paris CDG - in co-operation with Air France / KLM - so in some respects every cloud has a silver lining.
EMA is however an extremely successful cargo centre - much more successful than BHX, or most other airports outside of the South East will ever be, and I still believe that, less glamorous though the cargo side is, it is cargo that will make EMA - not long haul or full service scheduled passenger carriers.