I'm not deaf (hoh) so I'm not sure if I get to answer this one, but:
Maybe. Losing my hearing significantly impacted my mobility, and in the end required alot more time doing o&m for me to be as safe as I -always- was when my hearing was 'normal'. I can't say I loved my hearing loss right about then. On the other side, it's given me an interesting window into forms of communication, -forced- me to stop relying on audio-everythings and become a better braille reader, and to some extent, made me prouder of who I am.
So, would I take the magic pill? Maybe, but only if it works for a limited time, or has some way to easily reverse it (second pill?) I wouldn't want to regret taking away a factor in my identity.