I don't have problem with Elisp. That's actually lot easier than what IDEs offer as a way of customization (Java?), and that's one reason I am interested in Emacs :-). What I don't like is the transition period where I am not set up properly. It doesn't quite feel like learning, but rather reinventing the wheel.
And I don't have big requirements either - I just need some sort of project management (being able to work with multiple files), grep, diff, syntax highlight, ability to indent/unindent and comment/uncomment block on a hotkey, more sane undo and maybe a little bit of completion and language documentation integration.
I can program in Notepad++ and be happy. So if it would be configured to do what that is doing out of the box, great.
Another problem I have, when I want to rebind a key, how do I figure out what keys are used and in what modes? Is there a way for the system to give me a suggestion for a key?