Just got back from using Pal Mickey and we really, really enjoyed him. Sure there could be more spots where he gives information but he still offers lots of helpful and fun insight.
The belt clip is terrible though so we used a camera strap so he hung like a necklace and he was never in the way. Also, by doing this it was easier to bring him up to our ears when he had something to say.
A couple of cool things he did:
-In AK when we were walking down a path he said "you already went this way, perhaps you should try the other path so you see something new"
-In epcot he pointed out the talking water fountains.
-On a scary ride he would be nervous beforehand and make funny comments about it afterwards.
-In AK on the jungle trek he pointed out the animals and told us interesting facts about them.
-He gave clues about hidden mickeys.
In closing, I cannot imagine going to WDW without him. He is the ultimate tourguide.