This combo is simply tron as an emperor. Just slap down karn, and exile thing after thing until one of your buddies dies, then just restart. You may rinse and repeat until you win.
I believe it does... Lemme check the rulings:
6/1/2011 In a multiplayer games (a game that started with three or more players in it), any player that left the game before it was restarted with Karn's ability won't be involved in the new game.
Oops I was wrong :P
No resurrecting players
What's this Emporer format?
3 on 3. Person in the middle is the emperor. You have to battle the person next to you, and can't attack the emperor unless you beat the person you're dualing. If the emperor dies, you lose
I LOVE Emperor. It's hilarious when your Emperor is a burn-draw-lifegain spell-slinging master and you and the other General are creating massive armies of creatures.