Is this to much work for 4.5% interest?

I love searching the net and my local newspaper to insure that I'm getting one of the highest rates available for my emergency fund and savings. I'm currently with Emigrant Direct paying 3% and Amtrust Direct paying 2.75%. Both banks are paying much higher rates than any local banks in my area.

So today, while cruising BankRate.com, I came across an ad stating 4.5% on my checking account. Now, I don't typically leave my "savings" in my checking account but at 4.5% I needed to check this out. Addison Avenue Federal Credit Union is the bank paying 4.5%.

There are some hoops you need to jump through each month to get this rate. Here's the hoops:

1. Must use your Debit card for a minimum of 12 purchases a month. (This is how they pay you 4.5% as the fees they are charging the merchants for your debit card transactions cover your interest payments.)
   
2. Set-up direct deposit or one monthly recurring debit.
3. Sign up for electronic statements. No paper.
   

So, is it worth the hassle? I'd say . . . . No for a number of reason.

1. Are you really going to keep track of how many debit card transaction you do each month?
2. The 12 debit card transactions, is this in a calendar month or is it something different like the 15th to the 15th?
3. You're checking account is one of the worst places to keep your savings / excess cash. It will leave and get spent on some impulse purchase.
4. If you're not keeping a large balance in your checking account and I'm saying you shouldn't, then 4.5% on let's say $150 is your average monthly balance, your only talking about $6.75 a year. Skip a few sodas and you'll save that in a month.

Anyway, these are my thoughts on high interest rate checking accounts. Do you agree or not?