I wouldn't say it's useless in level three. I only say that I see nothing advantageous to having a seahorse.
I don't know if it'd help in level one - I always pour any spare cash into research *shrug* so I've never had a seahorse in level one.
It only appears in one tank at a time, yes, and you can't buy another seahorse, so ... yeah. I'd suggest getting the research first.
LOL.

Flattery will always get you some help.

LOL. I was that way too with FT at first (impatient and nervous), but as I learned the game and how it played, I got pretty confident and was able to leave it be for a while... I usually run it in the background on my computer or minimize it and do other stuff. Check on it every half hour or so. If I'm watching a TV show, I tend to shove it on screensaver so I can keep a eye on my fishies. lol.
Too positive? I'm thinking they'll have it done by April's end or May.

I hope.
Rainbowfish