Campaign Dependant
In a normal campaign with a generic easy-going DM there is probably no reason not to. However, I can see times when I would take a different feat (in fact I played in forgotten realms and did), here they are:
1. You are starting the game at 1st level and you are an elf (or race without a con bonus - except human). I'm sorry, even with the new toad you are just not going to have the hp to survive a lot of situations confidently for a while.
2. Your game is particularly combat heavy. This is a corollary to 1, in that it assumes you are low level and going through a lot of combats.
3. You plan on multiclassing, or not sure if you will. Spellcasting prodigy is still nice for a multiclasser, but as it must be taken at first level it may be weird to take it as a rogue or fighter, also if you are planning on going something like DD then you aren't going to be casting many spells anyway.
Basically there really is no reason for a human spellcaster who plans on staying relatively pure to their spellcasting class and is not starting the game at levels 1-2 to NOT take SP. My elf chose Mind Over Body and had the bonus spell from high int anyway (Living City Sun Elf +2 Int, +2 Dex, -2 Con, -2 Str) but lemme tell you I had some good times with 6 Str and 10 Con... (and I ended up multiclassing).
Also, in 3.5 it is easier to make a combat mage using non-DC spells. I'm not talking about buffing or summoning, a lot of spells were changed to ignore SR (conjurations) or be very damaging without a save (scorching ray).
Technik