I believe the times when this would actually be a good thing are VERY rare. Like I said it shouldn't be a matter of just wanting to erase memories. Those negative memories and learning to deal with them are important. The rare cases would be in cases where it is debilitating, or a person without a doubt is going to commit suicide if it remains. Things like that.
Yet like I said that is pretty rare. I consider any other use of this tool to be a very dark thing.
You are right. Negative experiences are equally important for life as the positive ones.