Considering all the video cameras I've used and my current Konica/Minolta A2 with a 1 million pixel EVF:
But with an EVF would there not be delayed start time when turning on the camera?
Nope none.
And lag in the display as you zoom, focus, change settings, etc?
Nope, none.
I know from using P&S's they tend to suffer from just such lag and slow start times.
Yup, but not anything to do with the EVF.
That's one of the things I love about shooting with a DSLR is the instant shooting ability when you turn it on, and the fact that there is no lag in the viewfinder.
Yup, EVFs too.
Also, would the EVF not be a big drain on the battery?
Yeah it would. But with an eye-sensor it wouldn't be dramatic at all. Mine currently has a few selectable ways of using the sensor:
Always on.
Always off.
Off when eye is removed.
Switch to LCD when eye is removed and LCD is off when eye is near.
It's for sure less drain than an LCD. With a good EVF an LCD isn't needed at all and can be considered an extra luxury item.