How to exclude emails from Spotlight results
This has been a big issue, no matter whether you're using Mail, Outlook, Entourage, etc. Excluding the email folder in Spotlight also excludes the search feature from working inside of the application, which doesn't work for me. Here's how I solved the problem: simply add the following text to every spotlight search you wish to exclude emails:
NOT kind:email
so:
GMO NOT kind:email
will only list files containing the word GMO, but exclude all emails. I use PasteMaster, a multiple clipboard app, and I "locked" this so it's available to me any time. (Note I'm on Mavericks, but it will work on any OS that uses Spotlight.)