I had one and they work fine. The only real downside is that they're in plain sight and don't lock so you need to remove your ETC card every time you park in public.
Now though there are aftermarket covers for them that it appears you could put a lock through.
http://page21.auctions.yahoo.co.jp/j...882#enlargeimg
Same cover on rakuten.
http://item.rakuten.co.jp/ap-murase/nsme001/
The only other potential negative that comes to mind is that they'd be easier to damage in an accident or be vandalized compared to one tucked away under the seat or some other less exposed place.



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