Yes, I routinely use the focus confirmation light, and I love it. But when my R 90 Summicron is at f2, the field of focus is very small. So small, that I can fix the focus on the eyes and just have them sharp in a portrait. When I miss focus on something like that, an inch is the same as a mile. I blew it. I can't really trust the focus confirmation light, because it isn't accurate enough. I've tested it, and the camera is not always 100% right. At f4, no big deal, but wide open it is important. Cutting the EM screen down is doable, but I'd rather not do it if I don't have to. Believe me, as much as I love the bright finders on the cameras you mentioned, a split prism focus screen would be much better for my needs.
I screwed my Summicron w/ adapter onto the EM, and wow. You can get accurate focus in a split second on the EM, and you know it's on the money, not nearly on the money. The center weighted exposure was correct too, even using stopped down metering. But the EM isn't what you'd want for portraits because it has no spot or matrix metering, no manual metering, nor an AE lock to get the correct exposures.