My wife and I had the VF-2 Both viewfinders, and we gave hers to my brother, together with her E-PL1 camera. So for her E-PL5 I ordered this one here, and wow - it's brighter, bigger and better than my old manual OM-2 camera (Which probably has the best of all optical viewfinders on the 24x36mm film cameras). So of course this is therefore a step up if you come from a VF-2 viewfinder (they're so pretty good, but can not touch this one). All of a sudden I could understand why people love the OM-D E-M1 did much, Which has this one built in (but of course it can not tilt up like a VF-4).
The best accessory for any younger "pen" -type camera, but read the manufacturers' site about needed firmware upgrades first (the E-PL5 needs one, younger cameras probably do not).