Just after the Special Event, Apple re-opened its online store but we can notice that the eMac line has disappeared from it. We may assume that Apple is stopping this product line.
However we can still find reference to this product if we browse the Hardware section [1] of Apple's site and we take a look on the "Education" section of the page.
The eMac has been introduced for the education market in 2002. It was the cheaper Mac configuration (starting at $799) until Apple releases the $499 Mac mini on January 2005, during MacWord SF opening Keynote.
Many rumours suggested last year that the eMac line would be soon discontinued but Apple denied these rumours and brought another update to the product line.
Now it looks like Apple decided to stop the eMac, probably because its sales were hurt by the Mac mini's introduction.
UPDATE: Apple also dropped the U2 iPod.