IMO, if you're the only medic onscene and only have one EMT with you and no one else, it would be better to quickly drop the king (quick, easy, reasonably effective), so you could watch the monitor, establish an IV/IO, so on and so forth. The pt should be adequately oxygenated, and your hands are free to continue with other interventions. You have the added benefit of not inflating the pt's abdomen as much as the prep time prior to ETT placement. It doesn't take much more time to place a king than it takes to place an OPA. Pop on an ETCO2 before you start bagging.
Also, if a supraglottic airway is adequate for the pt's oxygenation at the moment, replacing that with an ETT in the field (medevac notwithstanding) is foolish, unneccesary, and dangerous for the pt.
Now, if you have a pt that codes in front of you, or is in imminent resp arrest (APE, tight asthmatic, etc) the ETT is the only appropriate first line procedure.
With arrests, the AHA has gone away from ETT's if BVM vents are effective. I figure that if you drop a king, you're ahead of the game with a fairly decent airway. Just have the basic bag and do compressions for the few seconds it takes you to place the king. Done.
Now, if you have two or more medics, ETT ought to be placed instead of a king.