The tweets at Sheppard are now averaging around 20,000 hours. Flew one with 21,000+ before. It's a great airplane for training, no doubt.
The topic of personal ejection minimums is something that is briefed everytime you fly the tweet. Most people agree upon 150 knots OR 500 feet. As long as you have one those, you can pull the handles. Yes, the emergency minimums are lower as well as the -1 parameters for final turn and final, but most people would rather put the airplane on the ground (as long as the airplane isn't breaking up).
From what I have heard about this incident I am glad they had the better seats.