In recent years there has been a revival of a theory of conscious emotions as analogous in important ways to perceptual experiences. In the standard versions of this view emotions are construed as, potentially, perceptual disclosures of values. The model has been widely debated and criticized. In this paper I reconstruct an early, qualified version of the perceptual model to be found in the classical phenomenological approaches of Scheler and Sartre. After outlining this version of the theory, I examine its prospects against objections prominent in the current debate.