The device might send a Geocode, but reverse geo-coding (turning a long/lat into a human readable place) is a highly inaccurate thing. Secondly, most responders have no means of turning a long/lat into a point on the map, short of using their personal phone. Next, altitude is not factored in. Imagine being in a downtown office building. If nobody is downstairs to guide responders, or if the caller was unable to speak, they will have a really difficult time determining just which building/floor you are in.
Its all gotten much worse with the advent of mobile/VOIP and now, WIFI phone systems where your phone can move. Its a system ill equipped to handle it.