If you overuse them, they can make your piece look as though it were written in Morse code. But I use them more now than I once did, often to set off a list or something else at the end of a sentence, where I used to use a colon.
I decided that colons look too academic and that em dashes are more conversational and reader-friendly. They have a place and are definitely worth a story if you have ideas.
Might have more thoughts later but the Pulitzers are about to be announced (at 3 EST). Do you think the Inquirer has a chance? I remember when it won Pulitzers regularly.