[Goofup]

It depends. I have a Panny FZ50 and it has a EV with really good definition, and a "flip around" lcd. Before I had a Canon Digital Rebel and I "thought" the OV was great, but now I actually prefer an EV. The reason is you can see what the picture is going to look like in a EV better than a OV. For instance, I posted a while back of a back-lit church. I could never see how the end result would look like with an OV, but with the EV you could see how much of the church would show up when metering the different parts of the picture (totally in shadow if metering the sky, lit w/blown sky if metering the church). In other words, you can only see the scene with OV, but you can see the exposure and end result much better with an EV. Mine also has (among other things) the ability to superimpose a "rule of thirds" guide and a live histogram (handy).

Course, there's good and bad EVs. I've had cameras with low resolution, streaky EVs and they suck big time. When it comes to EV vs OV it's a "try before you buy" thing for sure.