I have a new EO512 on my 16" flattop. I prefer shooting with both the front and rear sights folded down, that gives me the largest and clearest sight picture I've ever used on a firearm. So frankly I would not even try to co-witness other than sighting in at the range.
The holographic sights are superior to the old red-dot sights in my opinion for two main reasons:
1.) They offer a 1MOA dot which is more precise than the 3-5MOA dots of many red-dots.
2.) They are a point and click interface so you do not have to worry as much about sight picture and cheek welds, you see the dot, that's where the bullet goes. Of course the red-dots are not as picky as your standard scopes either, so they are sort of an in-between tool.
Disadvantage is zero magnification, many red-dots offer 1.5-3x at least. But zero mag also improves the field of view.
I am trying to get used to it still, shooting with both eyes open is very strange to me. I have to unlearn 37 years of experience.