Yup it's very much lens dependent - the faster the lens is (in terms of wide open apertures) the better it works relying on peaking alone without magnification - I was able to very reliably focus the CV 50mm f1.5 M mount version without using magnification maybe 60-70% of the time. I focus the lens only at the biggest aperture of the lens, then stop down to the shooting aperture if I am not shooting wide open, or stop down by feel till the EVF shows correct exposure - I don't use aperture priority at all, only manual, so I already know what shutter speed I am at, so the only thing I need to do is to stop down before shooting if needed.
Peaking is usually set at high and color yellow for best visibility.
With wider M lenses, I do lower the peaking level - usually for the wides i tap a button twice quickly to zoom in to confirm focus (though with a 35mm lens, I usually already know what distance I am set, and hence the focus is already quite there) if needed before shooting. Here the deeper DOF, especially when stopped down a little means I'm not so worried about the focus.
