In my opinion it depends on how you use them.
I’ve been using AIR II’s since their first generation appeared on the market. While just using them for what they originally have been created for – as a device for emergency situations – I always have been very satisfied with them.
You brought the reasons why this has been quite good to the point. There is one hose less dangling around you and you nearly never have to use it. But if the unlikely event occurs and you need it, you have something valuable to provide help with.
In more than 25 years as a diver and on about 2000 dives I had to share my air with another diver in an real emergency situation only once. Also I can’t remember that I have been witness of another real emergency situation in that period of time. So for me the alternate air source is something comparable to the spare wheel of a car – it is good to have one, but it is relative unlikely that you ever will use it.
Also if the unlikely moment comes, that another diver should be in need of your air, you should not expect, that he acts like he has been taught during his training. It is very unlikely that he will look for your alternate air source for to use it. It is much more likely that he will grab for the next regulator which is obvious for him and that is the one in your mouth. So if he pulls your regulator out of your mouth, because he is in panic, the AIR II is a perfect solution for you. But even if he stays relaxed, communicates with you with proper signs, in these rare occasions it is the easiest way for you to hand him your 2nd stage and than take the AIR II for your own.
Things started to change for me when I started teaching diving. From that moment on breathing from an alternate air source became a frequently used technique for me, I had to use on many of my dives. From that moment on using my AIR II meant, that I always had to hand my personal regulator to my students while exercising the alternate air source breathing with them. But I simply did’t like to have everybody permanently sucking on my personal regulator. Because of the same reason I also would never use the long hose version.
So first I simply added an octopus to my configuration, just for these training situations. But within short term it became obvious for me that it doesn’t make real sense to dive with an AIR II and an octopus, so I took the AIR II out of service.