The security light stays on, without blinking, on my 2001 Firebird, but it runs fine.
The alarm system seems to work, as long as I set it by locking my car with the remote. If I lock it manually from the door, I can unlock it with the actual key and no alarm sounds, but if i lock it with the remote, I have to unlock it the same way or the alarm will sound. Right now, the light being on constantly is just an annoyance, but I don't want it to turn into a major problem. Any suggestions, other than disabling/by-passing the entire alarm system?