The comment about pets was not referring to the pet window but to party members' pets. They are often viewed as additional party members and having a indication of their health is quite handy.
Personally I like F-key labels.
Group member's positions tend to change as some leave, new ones return, people go LD, etc. It's not *strictly* necessary but its a nice little addition, particularly in high-fluster situations or at 4 in the mornin'