I have it turned on, but honestly it's not very hard to figure out where I live... it's in the middle of that circle where my runs oddly seem to stop
And ride / run through the circles on occasion. These will show up in tracing confusing the analysis.
You may not get the exact street address, but you could definitely figure the block or the street. Maybe not super useful in a dense city, but that could leak quite a bit about you if you live in a suburb or rural area.