Emacs 23.0.60.1 renders Devanagari with no issues.

Emacs 23.0.60.1 देवनागरी लेख को अच्छे से render करता है .

/me =app-editors/emacs-cvs-23.0.9999 चलाता है .
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Posted from GNU Emacs 23.0.60.1 (x86_64-pc-linux-gnu, GTK+ Version 2.12. 8) of 2008-05-13 on chateau