I have the wrist and ankle road id (one tag, two different bands) I use the ankle a lot more and love it. Just one thing, make sure it isn't on bare skin, put it around your sock. I haven't had chafing issues with the band, but can imagine it may cause a problem.
I was thinking about the ankle version. Does the neoprene make your ankle hot in the summer? Does putting it over your sock help with that?