We spend a lot of time in Florida with our Elkmont in the winter, and the only way to do that in such a small space is to live outside as much as possible.
The awning really helps doing that. You can live (cook, eat, read, do computer stuff, store stuff) outside in the rain or when the sun is broiling. It's also useful for stringing up laundry lines.
The only thing is doesn't help with is the bugs or cold.
We would recommend it.
EDIT: Canopies are ok, but hard to connect directly to the trailer, so do not really extend the living space as well.