I did figure out the key elements of the m3u setup that work with Emby per my implementation goals. I found more out-of-date/inaccurate information than answers. I read and tried a lot of tips from various internet sites related to Emby and proper m3u configurations. I experienced, slow updates to my configuration and the quality of guide data was less than what Channels provides. I abandoned the iptv-epg service (service quality was the primary issue.
In the end I was able to accomplish exactly what I wanted with the added benefit of having all the channels in the order I wanted them (grouped by news, movies, locals, etc.). The idea seemed simple, use Emby to play live TV from Channels DVR on an old Roku TV that didn’t handle the beta Channels DVR App very well. This was my first attempt in creating m3u files and working with guide data, so this may be simple to you. I started this thread and thought I would close out my part by posting what I found.