I can't speak about the 5N, but I can comment in relation to the NEX5, which also supports focus peaking.
I also have poor eyesight and using manual glass (using focus peaking or not) on the NEX is something of a hassle, especially in bright daylight, where the screen gets really hard to see. A loupe might solve that issue in daylight but it adds more bulk. In more subdued light manual focussing is much easier. Manual focussing via NEX for some subjects (eg birds, sports, other dynamic subjects) can be really hard too.
On the NEX5, the 16mm kit is OK, but it does have weaknesses - not terribly sharp in the centre, soft at the edges, and some vignetting. DxO and LR do a creditable job addressing most of those issues. I would, however, hesitate to use it for landscape and architectural work, as you do get noticeable geometric distortions (see below - these are correctable if you have the right software, but it's a hassle). But since I am not much of a pixel peeper I think it is a perfectly usable little lens.
St Patricks Church at dusk
The 18-55 kit is optically superior to the 16 pancake. Very much sharper in the centre, quite good to the edge, less vignetting. It is a very useful walk about lens, but yes indeed the NEX5 is not very compact once you have that lens on it. With the 16mm the NEX5 is almost pocketable, but not with the 18-55.