Safe seconds are becoming much more common in the states and shops are pushing them (my LDS included and we bought in when we got certified). Personally, I use the Atomic SS1 as my safe second and agree with Herman's concerns.
I see three problems with their use.
First, in a real out of air emergency, I want to grab my buddy's alternate to save my a##. None of this training bs with hand signals, both of us will have a very little time to make things happen. Most people around the world still use an alternate regulator as a backup looking for the yellow hose/reg in their time of need. Seems to me that is not the time to train a frighten buddy on the proper use of a safe second.
Second, the safe second also includes the controls for your bc that you are most familiar with controlling assents. When you are using the safe second that set of controls are in your mouth and you need to have a plan to use it for both duties or be very comfortable with the other air release valves on your bc. This is especially true if you spooked buddy in breathing from your safe second.
Third, I like my own gear when I travel. Right now there are three (3) different connector sizes associated with safe seconds. My concern is that if my bc or reg bites the dust, what hoops will I have to jump through to continue diving with what remains of my gear. If I ditch the safe second, a standard lp bc connector will work with my bc all around the world. Reg take a "powder", no problem. BC takes a "powder", maybe a bigger problem if it is not weight integrated.
All those problems aside, both my wife and me use safe seconds. That is the type of gear we trained on, we know the problems and how to deal with them (we hope!). Our gear is regularly maintained to lessen the chance of equipment failure.
Would I make the same decision now, no. The benefit of losing a hose is not worth the extra expense or complications.
Plan for failure, do what you can to prevent it, and you will be a better diver.