António Damásio, a well-known neuropsychologist already extensively explained why are emotions intrinsically linked to rational thought in his book "Descartes' Error: Emotion, Reason, and the Human Brain", published in 1994.
He basically says that without emotion you wouldn't have motivation to think rationally and he studied the case of Phineas Gage, a construction work that got an iron rod crossing through his skull and survived, but stopped having feelings after the accident.
I still doubt that they'll get something useful with this project. There is an infinite number of variables that stimulates our emotions and we can't expose a computer to. Not to say that even if we could, nowadays supercomputers doesn't have enough processing power to do the job.