It's bollacks. I have it on the 500D and have never used it, except when shooting movies.
I agree, the only time I use it is either for video because you have no choice, or sometimes on manual mode just to see how bright things are with the current shutter speed if i have been taking pics in a poor lit area then go outside for example. Even then I sometimes don't even use it for that, just take some dummy shots until I get it right

I think it can be usful for taking pictures when your holding the cam in the air above peoples heads at an event but it wouldnt sway my opinion of buying a cam just because it has it.