Emden alone was too weak to tackle the entire port - Muller was relying on surprise.
I'd bet a couple German AC's in the Indian Ocean would draw a couple British BC's in response, after which the iron dice may roll. OTOH, there's so many potential targets in the IO it would probably be tougher to find Spee than while shaving the morning after arrival at Falklands, he pops over the horizon. My bet is that in the IO Spee captures more coal than he think he might, and may still make a break for Germany in November. Damage to the AC's isn't that big a deal - they'll run out of ammunition anyways after which their usefulness is more of the fleet in being variety, and if so, can drop off most of the crew in East Africa while the ship itself might become a floating warehouse in some remote bay or other.
That was pretty much what I was saying - Spee pertty much sailed to the other side of the Pacific - fought Craddocks force sinking 2 obsolete crusiers and then got vitually wiped out in the Falklands having done very little to disrupt Entente commerce
The fleet in being is all well and good if the ships can be maintained and that needs a freindly port - which were few and far between and once identified can be masked.
Realistically the RN was going to catch up with them eventually (indeed the commadner of HMAS Australia had predicted where they were going and had asked for permission to persue but Australia was needed to cover troop convoys) and their destruction was inevitable - best thing they could have done is gone on a rampage in the far east and IO possibly arranging to regroup at a certain point for a main force attack on a major port?
And then either try to get to a East African Port and become a force of Marines or get inturned in a neutral port.
I think that getting back to Germany is going to be difficult in the extreme.