Yeah Chuck, but doesn't it relate to your gauge as well? Between the mileage since your last stop, the lite and the gauge, you should have an adequate understanding of how much fuel is left. Except for my FL's. I never had a gauge. I use Pingle petcocks, so you can't count on a proper reserve amount with them. You're supposed to have a gallon reserve with the HD petcocks. No 2 were the same and on one of my FL's, I ran out of gas after 12 miles on reserve. Nothing's more accurate than knowing your bike and it's limits!
Hoist! 
I agree 1,000% about knowing how big that tank is, and knowing how far you can go. But.... since conditoins change, wind, grade, elevation, speed etc., mileage changes, sometimes drastically. Knowing when that little light comes on, or when you hit reserve will let you know how well you're doing against your benchmark.
Quick example. I knew reserve was at 4.5 gal on the '99. I knew I had 1 gal reserve. If I hit reserve at 180, that meant 40 mpg. Any change in that meant I had to change stops. I routinely rode to less than 1/2 gal which was 200 mi.
Crossing Wisconsin Eastbound on I-90 with the standard 30 knot crosswind, if I hit reserve at 160, that meant mileage had dropped to about 36 mpg, which would put me on the side of the road at the 200 mark. Knowing exactly when you hit that mark, is crucial. I'll see how I adjust to a light instead of a reserve. It's not like I have a choice.
I admit, most people have a different meaning of riding tank-to-tank than I do. I like to stretch it. That's part of the fun for me. I haven't been stranded yet, but I've been REALLY close.
Chief