A 4CF spare air/pony is useless unless you are diving 20 feet of water! That is 1/20th the size of an AL80. It *might* get you to the surface in a huge hurry, but that assumes it is full, and you are breathing normally. This is all highly dependent on SAC rate, but 4CF is not much air at all.
I have a 19CF pony. It would basically handle getting me to the surface at any rec depth in a safe manner. It is 25% of the air in an AL80. So the question becomes can you get to the surface from any depth safely on 25% of the air you would normally use on the entire dive? The answer for me was absolutely. Another way to view this is that if you normally start an ascent at 1000psi, and end up with 500psi, you use 1/6 of the air in an AL80 ascending, and the 19CF provides 1/4 or more air for the ascent than most normally use.
However keep in mind if something does go wrong, your SAC rate may increase.
Traveling with a 30~40CF tank is not really a good option with current airline policies.
A buddy of mine has a 13CF. He feels that is safe. It is approx 1/8 the size of an AL80, so IMO not quite enough for a good slow ascent, but certainly enough to get on to the surface with a reasonable ascent rate.
If you are thinking of getting one of these for emergencies on vacation, one must balance the size/weight/volume with travel restrictions.
You can sling an AL80 if that makes you comfortable! But I don't think that is necessary.