I got one with and without lights, and honestly, If i need to know the status of lock lights, I just type something. It's never too much confusion.
My Terminal one without lights, is heavy, and has a very short coiled cord, it's also permanently attached, which is strange for such old Model M's.
My standard M with Lights, the one that came with the old IBM AT as an option, it just top notch. I love it to shreads. My favorite Model M, though My Industrial model is probably my favorite.