I think your protection is good and I think your security combo could potentially be very powerful - however it would depend on your configuration settings for each individual software (AV, AM, FW etc).
Avast free, I have found to be quite decent. I have used it myself in the past over the years, and during my time using it I can honestly say I was not infected, and it did block some detections. However, I cannot classify whether they were false positives or not. Then again, I was probably never infected whilst using it because I only used it for about 2 months, and I didn't really download anything in that time. I did find the Avast web protection working well last time I checked.
The protection offered by Emsisoft Anti-Malware is incredible. In my opinion, I would be happy to use just Emsisoft Anti-Malware on my system, without the need for Avast. In fact, I don't think Avast is really needed as long as Emsisoft AM is kept open like you would keep Avast open and active, protecting your system. I would say Emsisoft is better than Avast on all levels - except the surf protection it provides, which I have found generate many false positives in the past, sadly - including the real-time protection module, the behavioural shield... Emsisoft Anti-Malware also includes the award winning Bitdefender engine, which improves it's detection rate (and sadly, false positives as well) by far for catching out new zero-day threats.
For your firewall, I would say Online Armor is fine to use. Many other people use Online Armor at ease everyday on they're system. However, are you aware of the new Emsisoft Internet Security? I recommend you look into it - it is Emsisoft Anti-Malware and the new firewall protection in one, of course. You can read the blog post for more information about it's new features here:
http://blog.emsisoft.com/2014/09/08/new-emsisoft-internet-security/ It was released back in September.
CCleaner is a nice, good tool to use. I haven't tried east tec eraser or privazer so I cannot provide any information about those.
Stay protected! 
Cheers.