I went on Emperor Fraser four years ago to do St John's, not long after it had been in operation, and at the time it was one of the nicer boats operating in the Red Sea. It is spacious, has a good salon and sundeck, and had two of the best dive guides, Paul and Lisa.
However, Paul and Lisa are now landbased and I don't know the guides on it currently, and I have to say that liveaboards have moved on in that four-year period. It is still better than many, but some of the latest liveaboards are truly luxurious and in a league of their own, i.e. Royal Evolution, Emperor Serenity, etc.
Mark