I considered flying them a few times over the years, did tons of internet research and read lots of mixed opinions, and in the end always wound up finding similarly priced flights on other airlines. For my trip in June I had no such luck however so I decided to book a flight on AI. My friend recently went to India and said some of the legs were AI flights and it was fine. Most of the complaints that I've heard are about the food being bad (isn't airline food always terrible!?), the planes being really crowded, people being annoying, and the entertainment options being bad, all of which I've encountered on other airlines. And I've read tons of horrible things on the internet about other airlines (like Alitalia which is my absolute least favorite airline and which I try to avoid flying at all costs). AI apparently has a fine safety record and while I would like to be on a spacious brand-new plane with tons of great movies and non-annoying passengers I would rather save $300 and have a direct flight at convenient times. Please report back when you get a chance and have a wonderful trip!
Well, I hate to be the bearer of bad news, but I wouldn't schedule Air India again if I was you. That being said, keep everything even remotely important to you in your carry-on baggage. Anything you will need for a week should also be kept in carry-on baggage. It is touch and go. You could be fine, it could be terrible, but from a consistency perspective, in my opinion it is always better to only use them as a carrier of last resort.
When I flew to India, my professor (who goes to South Asia at least twice a year) said Air India is totally unreliable and it was worth the extra money to fly Emirates. Apparently the planes are delayed all the time, often for weeks. Also, the problems with luggage Jah mentioned.
I HIGHLY recommend Emirates though. I was on that plane for like 24 hours and it was fabulous. Free alcohol, great food, comfortable seats, and every movie you can dream of at your finger tips.