I'm considering setting one up. The only time I used one was when we were using surface supplied air, and thankfully never needed it. So here's my though process.
Worse case is I suck a tank dry. Not sure how someone could get to that point without realizing they are low in air, but it's worse case. More likely case is that I find myself low on air. At this point there is still enough to inflate the wing and drysuit but maybe not enough to get to the surface safely.
If this is your concern, a pony can be a solution, but I think it is simply "too much" for a recreational dive.
What I use is much simpler: a tank with a good old reserve valve.
If you forget to watch your SPG and end up breathing hard, you pull the reserve rod and you get back 50 bars, plenty enough for ascending and doing your safety stop.
If you want maximum safety, you need a Technisub spring-loaded reserve valve: this avoids the risk of pulling the rod in advance by error.
With a reserve valve your equipment remains lightweight and streamlined, avoiding all the complexity added by a pony tank.
Please be aware that I own a pony tank, and the band for mounting it in the center of my twin tank.
But I never used it in place of the reserve. The few times I used it, it was just for having more air for long deco dives. A larger twin tank had been better, but I do not own it...