Are you sure there is less mass involved?If anything, the lens
base system would be more responsive as it is moving less mass.
Lens data is transmitted to the camera and used for calculating compensation.In
addition, the lens system can be tuned to the particular properties
(mass distribution, dimensions, etc.) of the lens. A camera based
stabilization system does not know, in general, the lens properties
except for perhaps the lenses made by the same manufacturer.
That is purely a matter of taste. Personally I don't like stabilized viewfinder; I would like to see how much I shake. This helps me keeping more still increasing my chanches to get the shot.Then
there are the advantages of stabilizing the image in the viewfinder
and in the AF sensor system.
A stabilized viewfinder/ optical IS also use for more power.
What I have seen from pictoral results is that in body IS works. Even with a 600mm lens with 1,4X converter gets 3-4 stops gain which is basically as good as it gets.Having said all this, camera based stabilization is a good thing as
it increases the performance envelope of cameras that have it over
not having it. Like a lot of things, in the stabilization business
you pay more dollars, you get somewhat more performance. I expect
that both Nikon and Canon will implement some sort of body based IS
in their entry level DSLRs when and if they feel the competitive
heat from other brands.
The price difference is not necessarily related to performance but due to the fact that optical IS is far more expensive to implement. A stabilized prime lens often end up with same number of glass elements as a zoom lens due to the need of movable and aberation correcting elements.