Just traded in an 08 Sebring in late December with 225K miles. Never had an issue with the TPMS. Never had a battery fail. I just bought two used aluminum wheels for my 16 Dart so I could mount snow tires on them. Both came from a salvage yard with the TPMS sensors still on them. After swapping them out I didn't get any light on the dash. They seem to be working fine. Both of those cars have the base system though. The dash light comes on if there is a low tire...nothing tells you WHAT tire is low.

The system on my 14 Ram is a little annoying at times I guess. Once the warning appears on the info screen, it doesn't go off until the tires are filled up to their recommended pressure. If you're a pound low, the warning will still stay on.