Well I had to hook up my trailer today and wasn't in a hurry so I used my back up camera. I put the hitch ball directly under the trailer, got out and it was in perfect position. I lowered the trailer onto the ball, I was so happy since I first thought it was a useless option.
I still turn it off while backing out of the driveway and at night because it ruins my night vision. But at least it has a purpose now.