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Question to members who own and use the new E-M1 body - for a large user of legecy glass, does the focus peaking merit the purchase price of the new camera body ?
IMO, no. Olympus's focus peaking is horrible. You only have the outline colors of black and white, and neither choice really shows up very well, and it slows the EVF refresh rate because I guess it's considered a "filter" like Oly's other filters -- I guess they haven't figured out (or don't care) too much about peaking to do it properly.
That said, the VF-4 is really freaking nice, and you might not need focus peaking.
Personally I've never been a big fan of peaking, even on things like my NEX-5N - it's quite often inaccurate, especially with fast glass.
For me at least, pumping up JPEG sharpening to MAX and eyeballing it in the VF is much more accurate, as I just look for a "shimmer" in the VF. YMMV of course.