We have a cockatiel called Ollie and he is like a 'watch bird'. I always know when someone is coming to the house, and he can tell dh's car from any others. He also lets me know when I get home if there have been any visitors or phonecalls as he has yet another 'voice' for that.
He spends most of the time in the cage, but comes out every night for a few hours of play and snuggles with us. If I am hand quilting or knitting he has to inspect every stitch.