Do you think that Prince coulda had the same success with a 1 cd version of Emancipation as he is having with MUISCOLOGY? I do..also I feel that the material on a single cd of EMANCIPATION would surpass the MUSICOLOGY CD...my picks for the single EMANCIPATION CD would be

Somebody's Somebody, Damned If I Do, In This Bed I Scream, One Kiss At A Time, Soul Sanctuary, Curious Child, Holy River, Lets Have a Baby, Savior, Friend Love Sister Mother/Wife, New World, Sleep Around, The Love We Make

First single/video:"Holy River"

followed up quickly with single/video for "Sleep Around."

Subsequent singles :"Somebody's Somebody" , and "Damned If I Do"

radio only singles: "The Love We Make" and "New World"

do you think that EMANCIPATION would have HIT had it been done this way?

No! Probably would've been a BIGGER hit had it been only one CD, but not necessarily with the tracks you mentioned (I think you left off SOME of the most interesting tracks ie; Eye Can't Make U Love Me, Face Down, One Of Us & Style).
I like this single disc version better (one I put together):

Jam Of The Year, Somebody's Somebody, Damned If Eye Do, Eye Can't Make U Love Me, Sex In The Summer, One Kiss At A Time, The Holy River, Journey 2 The Center Of Ur Heart (outtake), Face Down, Style, Sleep Around, One Of Us, Goodbye & Emancipation

(personally, I wanted to put 'In This Bed Eye Scream', but it wouldn't fit (maybe put it in place of 'Sex In The Summer'))