For me, I think the chute is probably the best safety item ever put in an aircraft and I for one would definitely have one if it could be put in my aircraft. I also like the Cirrus aircraft, there are quite a few of them at my airfield.
BUT, there are downsides. First of all I really do feel that having the chute on the aircraft does take away some element of assumed risk. I have seen this with my own eyes down at my airfield with some (and I do say some not all) Cirrus pilots electing to take the chance when others will not even consider going up.
Also, the 'pull the chute at any sign of danger' attitude is fine and probably would save your life in many circumstances. But no one seems to consider the people on the ground. A chute pull (when there may have been a recovery if no chute had been available) may well save the lives of the people in the aircraft, but once the chute has been pulled there is no going back and next to no control. The last chute pull I heard about came down in a garden and a couple of hundred metres from a school.
I think it is very difficult to judge if the chute should have been pulled or not as I wasn't in the aircraft and I may of had a very different opinion if I had of been in there. Unfortunately (or fortunately), it is human nature for life preservation and when under pressure and a life threatening situation, the first reaction is to take away that risk and the chute gives a very good option of doing that.