I see where you're coming from. Memories are often stored with emotions. Really, they're inseparable in the way the mind processes them. However a gifted story teller Rowling is, she's a bit shoddy with anything requiring a scientific explanation (like memory storage). I would say you probably wouldn't feel how the subject of the memories felt, though, because you're watching the memories and not seeing them through the subject's eyes exactly. It's like watching a movie. You can empathize with the protagonist, but you're not watching the action unfold from their point of view because you're watching the action happen to them. Does that make sense?
The memories stored in a pensieve or in vials to be later viewed in a pensieve are accurate and not tinged with emotion, at least as far I remember.