Which statement is more correct:

I feel well.

I feel good.

It is my personal opinion that when someone uses "I feel well." they refer to their health, whereas "I feel good." should be used in terms of emotional feelings. Am I correct, or severely misinformed?

~ Cicero
Your personal opinion works for me! I would judge the meanings of those two sentences the same as you have.

Emotion: smile
Just to add to CalifJim's response, according to the usage notes in American Heritage Dictionary, good "...has a much wider range of senses, including “attractive,” as in He looks good, and “competent,” as in She's pretty good for a beginner, as well as “healthy.”

If I were just beginning to feel better after a cold and someone were to ask me how I felt, I would likely reply, "I am good," referring to my physical state. To me "well" has a touch of formality to it.

Just one person's opinion.