I have the system installed on my bike. The up side is that the bike is protected 100% of the time. You could leave your bike on the corner of Nebraska and 21st over-night and you would know 10 seconds after someone touched it. Better yet, the cops would know 2 minutes after someone threw it in the back of their truck and would have a GPS track of where it is regardless of whether or not Phantom could get in touch with you.
The down side is that the system is not easy to install, in fact Phantom will only let a certified tech install it, so you cannot just go pick it up and install it yourself. Also, it is very important that the system does not lose power once it is installed as it is extremely difficult to reset. If it does lose power you will not be able to start your bike or disarm the system until you tow it into the dealer that installed it so they can work with Phantom to reset it. A GIANT pain in the ass when you cannot ride your own damn bike. Then again, I just keep mine on a battery charger when I am not riding it for a couple of days to make sure this does not happen again.
By the way, Barney's no longer installs them because the Phantom consultant that they used to have on staff no longer works there. They have also had multiple complaints about the installs (mine shorted out my ECU and caused $1,200 in damage that Barney's had to cover), so they are done trying to support the system now that their Phantom guy is gone.