deniro, I'm in Arlington...if you are anywhere near No. Va, you can meet me at the Izaak Walton League in Centreville and shoot mine.
I just got the Holosight/#40 combo for my M4gery, and it's very nice, I must say. The sights co withness perfectly, and with that big Holosight window, you can actually see well enough to actually use the iron sights.
In a few weeks, I'll have an Aimpoint on a #38, so I'll be able to compare the two. In broad daylight, the center dot in the Holosight is very small; it shows up perfectly in the center of an SR-1 target, with lots of black around it. My Kobra sight has a similar small dot, and I shot a 2 1/2" 25 shot group with that one day...and that was semi rapid fire to boot. (it was benched...I'm NOT Alvin York!)
SMGLee's picture shows it perfectly, except in real life the overall sight picture is better, you won't see anywhere near as much of the Eotech itself...AND, the red dot is much more prominent...in the pic, it looks like you can't see it because of the front sight. If your considering the Eotech for a tactical/cqb kind of application, I don't think you'll be disappointed.
It's kind of hard to describe the "optical illusion" that goes on in your brain, but you don't really notice the front sight; it's not hard to see the dot even if it's under the front sight post...because it's bright red, your eye picks it up much better than the sight, and it kind of overrides everything else. With the rear sight up, you can change your reference point to the front sight, and ignore the dot. It works, even though it doesn't sound like it should.