I selected "I'm one" because there wasn't an option for "I used to be one". I wiped my old account, started fresh and never re-applied for librarian status on the new account.
That said, there aren't really any downfalls, except if you have a picky friend that sends you daily correction requests via PM instead of posting them to the Librarian's group. (Yes, on my old account, I was friends with someone who did that, but it was just one person and I don't think it's a widespread issue.)
The upside is that you can help keep book records in a correct state, if that interests you. Also, if you see something that needs corrected, you can just do it instead of posting it and waiting for someone to fix it.
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