I really like the transmission mounted parking brake that someone swapped into my 52 1 ton.
It holds really really well on any incline, no hesitation. I found it usable as an emergency brake with no problems, just takes a light application to slow down a lot.
I don't know about the wheel mounted parking brake, with a transmission mounted one that works so well I'll never bother to find out either...
Yes jacking a rear wheel up renders the driveline brake useless, but when (if ever) do you absolutely have to change a wheel on hill, and why can't you use wheel chocks like you know you should no matter what brake you have?
Grigg