Great point raised by gutless emir (5)
I believe the answer is:
super
'great' is the definition.
(both can mean excellent)
'point raised by gutless emir' is the wordplay.
'point' becomes 'S' (S is an example).
'raised' becomes 'up' (similar in meaning).
'by' is a charade indicator (letters next to each other).
'gutless' suggests removing the centre.
'emir' with its middle taken out is 'er'.
's'+'up'+'er'='SUPER'
(Other definitions for super that I've seen before include "Brilliant" , "Top" , "Gushily great, excellent" , "Marvellous, terrific" , "Peerless" .)