From B&H:
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The Canon EP-EX15 Eyepiece Extender extends the eyepiece by 5/8" (15mm) from the camera body and reduces the viewfinder magnification by 30%. This is useful for eyeglass wearers and others who wish to prevent the tip of their nose from touching the camera body. It also prevents condensation or fogging.
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Canon | EP-EX15 Eyepiece Extender | 2444A001 | B&H Photo Video
and the one review for this item states
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Not For Those Careful About Framing
Compromises the precise field of vision, and therefore is not for those who care about exact framing. It is not always possible to compensate by using editing software, such as Photoshop. This Eyepiece does what it is designed to do, but I'd rather wipe a few nose prints from my 40D, and see exactly what I feel I need to see in the viewfinder!
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Why would I want to reduce the viewfinder magnification? Is this a good thing?
Some responses to your other points:
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Get the battery grip and you'll kill two birds with one stone here...
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Battery grip adds cost, weight, and bulk. I may as well have a 1-series camera.
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Uh..what else did you want to do with the back of the camera?
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Have quicker access to important camera functions via dedicated buttons.
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I hadn't noticed it, even when switching from film. I haven't shot full frame regularly, though, so I guess I just got used to it.
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I didn't notice it that much either until I used full-frame digital cameras.
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You actually use the joystick? I just use the Main Dial.
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Main dial is for exposure comp. The joystick is there to be used. I think it's crappy and always have felt that way since Canon introduced it with the 20D.
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I gotta be honest: I've never seen this happen.
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Has happened since the 20D, when Canon loosened the tension on that mode dial. The 10D and D60 did not have this issue.