I differentiate between physical and emotional sexuality because:
a) We are both polyamorous, believing that it is possible to love more than one person just as you do your friends, parents, children, etc.,
b) We are both swingers, believing that sex and love are separate but complementary things, i.e.; you can love someone you don't have sex with and be happy, you can have sex with someone you don't love and be happy, and you can have sex with someone you love and be very happy. Taking that to the obvious conclusion; you can have sex with friends and enjoy the relationship (it's sharing). You can INCLUDE friends in your sexuality activities WITH the ones you love and be VERY happy :)
You could say that we ascribe to the "Ethical Slut" philosopy espoused in the book of the same name. Perhaps that goes a bit beyond the pale for us both, but it's not far off.