I agree it looks better off. However when I peel my stock tire/cover off after years, it's still new.If I was running larger rim and tire for the spare I would not want the extra weight off the tail gate, I would move it up to the rack.
If I was in Ottawa, I would have it on for the winter. It will help to protect the tire/rim from salt and snow. I noticed that since much of the blowing snow comes off the roof and ends up around the tire/rear bumper, that most of it does not stick to cover= less snow and easier to clean off with snow brush. In the spring I do remove the cover and the spare to clean around tailgate painted surface, and apply wax. While it is off, I check tire pressure, clean spare rim both sides, and all of the mount. I also installed a coiled steel bicycle lock cable to secure it to the mount. Very neat and tidy. Out of sight is out of mind for potential thieves. I only got 4 wheel locks not 5 in my set.
The cover I then re-install for spring/summer to protect from UV. I will use a Wall-Mart leather /vinyl spray, found in shoe or purse section. (forget the name of it) and coat it liberally, after the cover was cleaned with soap and water and allowed a few days to dry.
It would be easier not to deal with the cover process I go through annually, but I know that the spare is better protected on, and it's not faded.
