If it works 10% of the time, that's unquestionably worth it. What's the cost, sore arms?
Also it's not just sore arms, CPR on an elderly patient will often crack ribs which is pretty upsetting. A 9/10 chance you'll feel like you killed a person by crushing their chest is pretty high.
Mouth to mouth is really gross and I wouldn't do it to someone with vomit all over them. Without a suction device it's not effective anyway.
I do think everyone should have to take CPR+AED in high school and college, it's a great skill to have and shares the burden of basic life support around the community. But I totally understand why someone wouldn't want to perform it.
A nurse advised me, regarding advanced directives for an elderly person, of the same. It sounds awful.