The views from the lookout platform are magnificent: on a clear day, you can see Volcán Cayambe and Cerro Puntas as well as the upscale suburb of Cumbayá (there are several good restaurants and bars in the main plaza there).
Look for the statue of Francisco de Orellana depicting the Spaniard looking down into the valley, marking the beginning of his epic journey from Quito to the Atlantic – the first descent of the Amazon River by a European.