The VF-3 is the best electronic viewfinder of Olympus and technically also the worst. However, one should not overstate, because even the "worst" of Olympus allows many other manufacturers still look old. The build quality is impeccable. In hotshoe he budge thanks locking, but can nevertheless easy to remove. The viewfinder can be folded by 90 ° upwards. At the end points, he snaps each. An eye sensor, there is not, you have to back a key between the viewfinder and display and forth. On the left side there is a dial for adjusting the Dioptrinkorrektur. The snaps into many small steps, so should not adjust as easily to accidentally.
The most important is probably the resolution. I use a PEN E-P5 and an E-PL1 as a second camera. With 921,600 pixels the viewfinder solves only slightly lower than the display of e-P5, here there is absolutely nothing to complain about. At the E-PL1, however, the viewfinder is worlds better than the low-resolution display. Sure, the VF-2, let alone the new VF-4 have a much higher resolution; but whether one really needs is a whole different thing. I think the resolution for more than adequate and can also detect individual pixels. Manual focusing and evaluating the sharpness are no problem. Only the contrast could be better and the colors look a bit pale, but that can be optimized via the camera settings.
For the current price of about 130 of the VF-3 is definitely recommended. Incomprehensible is why there is not the VF-3 in black ...