Symbolic link to Emacs 24 not working
After a little guidance from Mark (see comments above). What I did was to create a file in my bin with the name emacs and with the the following contents ...

#!/bin/sh
/Applications/Emacs.app/Contents/MacOS/Emacs "$@"


then 

chmod 755 emacs


and I am up and running from the command line with a new shiny Emacs 24.4 and ignoring the built-in Emacs 22