Observation point is possibly the best view in all of Zion National Park. We have been to Zion 6 times and love the park, this viewpoint is our favorite.
To get here, you take the East Mesa Trail (due to rockfall on the original Weeping Rock Trail). To get to the East Mesa Trail, use directions to the Zion Ponderosa Lodge. From there, you can take the hotel shuttle to the trailhead or if you go early enough, you can find parking. The trailhead is a few miles over a bumpy dirt road from the lodge.
The hike is an easy 7 miles round trip (East Mesa Trail route)
The Elevation Gain is about 700 feet (much easier than the original route)
The view is certainly one of the best in the park. It overlooks Angels Landing, the Virgin River, and much of Zion Canyon.
While the trail is easy, the viewpoint is scary if you get near the edge. There is no guardrail and you are very high up.