Hey,
You can reproduce the basic sound of any PCM module, this is how sample cd's work. The real art is being able to reproduce the programability (sp?) and the effects of the module.
You'll notice that when you buy a sample cd, the sounds come in all sorts of formats. EMU format will allow you to patch all sorts of parameters into each other, this will only be fully exploited by EMU samplers. You can load these sounds into an Akai sampler (like the MPC2000), but you won't be able to have access to all the parameters that were originally programmed into the sound.
If you go on ebay, you'll notice that you can get the sounds of almost any synth in a sample cd format. All the cd producer did was play a couple sounds off the original synth, recorded them as wave files, mapped them out to different key on a keyboard, and saved it as a program for different samplers. What sucks is that you don't get to mess with the sounds the way that they were intended to be messed with because samplers are all PCM based and only offer things like filters, LFO's and envelopes to modify the sound. You can't mess with (using the Yamaha FS1R for example) the different operators, formant sequences, bandwidths, skirts, etc.
Nick