I am also happy to spin, providing its a type that is spin approved, and that I've spun with someone more experienced on type. (eg my CFI etc ).
(I'm not at all keen on spinning the PA-38 though)
High enough to recover by 4000ft AGL
Winds not Gusting, good vis, in radio contact with either home airfield or RIS.
Spinning is something that should be taught IMHO, as it gives the student confidence in dealing with tricky situations. Having done it a few times, most students will view it as more of a non-event than they first thought.
I believe the benefits outweigh the minimal risks