Todays 1.4cvs has regressed. (Not necessarily today, but it was ok sometime last week.)
I can no longer turn on emphasizing by pressing "ctrl+e" The minibuffer indicates that ctrl+e turns on emphasizing when I press ctrl+e, but indicates standard font again as soon as I actually write anything. The output isn't emphasized either. Using ctrl+b for bold has the same problem.
There is a workaround: write the text first, mark the stuff to emphasize, and press ctrl+e. It is now emphasized, and writing more text inside the empasized region will yield more emphasized text.
But it is impossible to activate emphasizing or bold while writing normal text.
Helge Hafting