Benefits of “Bluetooth LE Privacy” feature?

For making an (until now, un-) educated guess about the necessity of spending the effort of including the "Bluetooth LE Privacy" feature in a consumer, embedded device’s BT software, I am seeking information about the "necessity" from an information security standpoint of offering this feature – is it useful? does it really solve a security issue or is it already broken?

The BT SIG itself is fairly quiet about this feature besides well-worded blog posts, so shedding a little light on this would help tremendously in making the decision to "go the extra mile" or just leave it aside.