as with other posts my concern would be lag. All those extra entities could funk stuff up. And still it would be hard to remove the possibility of thievery. So all I can see is this causing more lag and more drama.
I think that there are ways around both of these issues. First off, thievery would be harder because you can't put a saddle on a cat or wolf. You would have to push them around. We could possibly make them like players where you just walk through them. Or make them possible to LWC somehow. These are just ideas and I'm sure there's even better ones. As for lag, I doubt that they'd increase lag that much considering that horses didn't make too much lag. At least not for me. However, I don't know much about lag and entities and everything else that has to do with lag.
Horses are not causing much lag because of the limits andrew has set with them. And with ocelots and wolves you can use leads to pull them around. Not sure how LWC would work on a moving entity, or how you would make them basically real to someone and not to another. But then again I guess that is why I am not a developer
I guess "locking" the wolf or cat would make it impossible to put a leash on it. Or make it so that you can't push it maybe. If anything, I think it should be tested on the test server and see how much lag/problems they really cause and see if the pros outweigh the cons.