"the hyperfocal distance formula assumes a certain viewing condition"
actually, it has nothing to do with the viewing condition. it's a function of lens focal length and aperture. whether you're using live preview or not is irrelevant, and looking at a print has nothing to do with it.
the hyperfocal distance for a 50mm lens at f/8 is about 11 yards. for that same lens at f/16, the HF distance is about 17 feet. you shouldn't need to stop down smaller than f/16 for landscape shots, and in most cases, you won't gain any appreciable DOF if you do so. for a 24-28mm lens - common for landscapes - the HF distance at f/8 is something between 8 and 10 feet.... well inside that "1/4 of the distance up from the bottom of the frame" range. the difference is important if you want the immediate foreground to be sharp and clear as well as the distance.
i often use a 24mm lens at about f/11-f/13 for landscape shots, and i often want the foreground in focus as well, to emphasize a foreground element and give depth to the composition. for that lens and aperture, if i focus at about 6 feet, everything from 3 feet in front of me to infinity will be acceptably sharp.