I've come out in favor of the CTA Bus Tracker because it provides very helpful information when you need it. Like recently, as I watched the #22 pass my winter office while getting my coat on, I checked the next bus time. Fourteen minutes. Phooey. What about the #36, which passes a block away? "Arriving." Yep, I can see it passing a block away. Next one in 16 minutes. Phooey.
The problem is, it's a 15-minute walk.
So while the CTA Bus Tracker saved me waiting in the cold for longer than it would take to walk home, the CTA itself spaced the buses so far apart that any advantage from having the information was lost by having to walk home after all.
And yes, the next #22 passed me right on time as I walked past my home stop.