I'm sure its a nice thing, but as I pointed out, a light that comes on for when the spare is wonky is annoying. If you ask me, the system needs to tell you what tire is gone bad, and preferably just how low it is. That way you can decide if you need to pull over right now, or if you can limp to the nearest safe spot. Our Camry lacks that, so, as I've already said, I've learned to ignore it--how useful of a system is that?
That said, I'd hate to have it on a beater that I use for dump runs or short trips. On an old vehicle it's just one more thing to break. I wouldn't be the least bit surprised if you'd fail a vehicle inspection if the light was on.