The VF 4 gives you slightly more magnification, but almost double the resolution on the em-5. It also tilts up and makes a good waist level finder without left being right, right being left.
You need to update the firmware for the viewfinder and some of the pana lenses to work properly, but that's a pretty easy task.
The only problem with the em-5 and the vf4 is you lose the ability to add flash either on camera or through a remote like a pocket wizard, unless there is some attachment I don't know about (If anyone does let me know).
The Leica pana is very sharp, the olympus micro 43 primes are mostly excellent. The 45 is good the 75 is probably the best lens they make.
I haven't tried it with C-1 as lightroom has a very good look on the olympus, which is opposite of other cameras I've used in c-1 and lightroom.
In regards to the menu and setting up the file, yes you can change the raw to anything you like, but when you start very close to your look, it's a lot easier to fine tune a file than to start 75% off.
I have NR to zero, sharpness knocked down, shading comp off, I set the high fps at 6 because I don't think it track focuses if you are set higher than 6fps.
I change the color of the evf to more match my computer and there is a button with a curve function where I open up the shadows, close down the highlights.
I also set the viewfinder/lcd where the lcd is off when I shoot and to view an image i just hit the play button. Sometimes the eye sensor can drive you crazy with it flicking back and forth from evf to lcd so I just turn off the lcd and it also saves on batteries.
With batteries, if you don't chimp a lot two will last a long time, but if you run both the lcd and evf and spend a lot of time with the lcd the batteries will drain fairly quickly as they aren't that large.
Also if you have a good medium sized camera strap that also helps balance the camera.
A suggestion, when you run through the menu keep a pad next to you as the menu is complicated and doesn't revert back to where you left it, so you have to remember what you changed.
That's crazy, but that's the way it is and a pad and a old school pen will speed you along.
Do yourself a favor. When you test the camera, don't shoot it, then another camera and back and forth. I know that sounds logical but it just messes you up and keeps you from building muscle memory of how a camera works.
At first when I was using the gh3's for video I'd shoot some stills, them grab the em-5. The Panasonic has the most logical setup of any camera I've used and it soured me on the olympus, until I just decided to stop doing that and only use the panasonics for video, the olympus for stills and then the olympus made sense.
Also when you start comparing files, look at the file as a photo, not a scientific experiment. Overall the file is beautiful, but if you start going it at 100% you'll develope a false impression.
I know I thought the Canon 1dx was a way superior file until I finally built a body of work with the em-5 and now I believe the opposite.
Also the one drawback on the em-5 is it only goes to 1 4,000th of a second, so a .3 or .6 nd outside is not a bad idea.
I would also rent the right angle grip and battery holder. It makes the camera a nice size and gives it more balance.
The camera isn't perfect, requires a leap of faith due to it's size, but if you just shoot and shoot it like it's a $20,000 camera vs. a $700 camera (new price) I think you'l be surprised, but then again everyone has different expectations.
IMO
BC
For BCooter and other em 5 users:
I gotta rent the Oly em5, sounds great. I have a couple questions though:
Why do u use the add on viewfinder? Is the built in one useable?
I was hoping to get a good prime lens with it, thinking about the Leica pana 25mm 1.4 ( http://www.bhphotovideo.com/c/product/768816-REG/Panasonic_H_X025_Leica_DG_Summilux_25.html ), great lens but will the AF work during video filming? Are there other options in this FOV range?
I keep hearing how u need to "set up the menu" to get the file to look how u want. If your shooting raw why does it matter? Or are u referring to video?
Does the file look ok in C1 pro?