If you can afford £10 then the launchpad is the way to go just to teach yourself about the MSP430. You can use either IAR Embedded Workbench or Code Composer Studio, both which come in code size limited version which will be plenty big enough to learn with. I don't like either, but of the two the IAR one is, IMHO, the better bet as it's not Eclipse based. If you don't mind Java and Eclipse, then CCS is a viable option for you. One huge advantage with CCS is it runs on Linux, but really, it's still not a patch on Rowley Crossworks which runs on Linux. The latter has a cheap educational licence.
As far as the emulator and USB question is concerned, it's maybe being slightly pedantic, but it's not an emulator, it's a debug interface. There is a debugger built into the chip that enables you to load the code into the chip, set breakpoints, single step through code.
This kit is a great way to start because the debugger interface is built into the kit, you can access pins on the processor, see LEDs come on and all that good stuff that gives you the warm feeling you're programming a chip properly. For the sake of £10 you'd be mad not to!