I find it too easy to avoid tantrums nowadays. My initial dwarves, and probably second and third migration wave either stay in a dormitory or sleep on the floor. If we ever get to the point (again) where happy thoughts are crucial, maybe I'd see this working. As it stands now and as I see it: started playing DF about 2 months ago. Never even got a tantrum. Dwarves are pretty resilient to it already, and I usually set on evil regions close to a tower to see some thrill (and the most I get is a single undead siege, in which all of the undead simply drop all of their gear upon arrival - please note i play modified masterwork - until they see my fortress as a good investment for visiting - to the point I get no more sieges and lots of necromancer visitors.)
Also, roaming undead are no longer a problem - since I put basically every civilian on a militia, fully geared with reinforced chitin and warhammers of whichever most abundant metal I find. Except for the occasional "undead head hair", where I simply use exterminate undead - since this bug is game breaking - I train them up to lvl 5 on most of the useful melee skills with the modded masterwork libraries - hammers & mauls, melee fighting, armor and shield using, dodging, striking, biting & kickin'. Undead become kind of MEH, they are only there to accelerate fps death through skirmish leftovers (and that's why I use the "decaying corpses mod"). I also use the "more tantrums", "picky nobles" and another mod availabe on the MDF (which name I don't remember rn) that makes it harder to satisfy them. Happy/unhappy thoughts have become kind of irrelevant. I wish there was more of a challenge to keep fortresses going, except the occasional werebeast, that can be easily countered by turtling - which is the predominat strategy nowadays. The difficulty of having magma ready for an early forge on maps without wood decrease the pace and thrill of the game - since setting it up takes so much effort and so long to start spitting out some decent gear, that the early game is extremely slow, and mid to late game are trivial. Toady really should focus on bringing back risk/reward investments. As it stands now, games are a big stalemate - mostly on vanilla. So I don't see much reason in introducing even more happy thoughts. Most of my fortress deaths are fps ones, and/or associated with the boredom/annoyance of setting up massive/multiple furniture/finished good enhancing industries. Workshop zones would be a really good addition since logistics with workshops the way they actually are now are basically hell without pre-fortress stockpile & workshop macro planning. (not taking into account stupid stockpiling options such as "tools", "boxes and bags", etc) There is just so much that needs improvement that new features don't seem to really add much quality to the gameplay core - even moreso with the weird decision of focusing on adventure mode, and the long time it has taken to get new updates.
Also, alternative furniture/finished goods industries seem not really worth it unless you get lucky with magma/blood of armok. Glassmaking and pottery add way too many elements to the production chain, to the point where investing in them on the early game is pretty much a waste. Glassmaking requires bags, fuel & hauling; pottery requires fuel, hauling & glazing (might require bags for masterwork too, depending on the type of clay). So, you delay other crucial aspects, such as expansion for stockpiling, exploratory mining for metal ores, and potential investment in other areas, only to get one of these alternative industries running. Stone industries are just so less labor and resource intensive than these that they overshadow everything else. Only reason to have an early glass industry is for the production of trap components for trading, since they have huge values - which is considered an exploit by many experienced players. They are also good for bringing plenty of bags along for quarry bush processing, that generates LOADS of food - which can also be used for trading as extremely high value goods when prepared. With good planning, even the first caravan can be completely bought out - unless they get attacked/scared by something and simply explode and leave all goods on the spot for completely free. I guess caravan guards only exist to stop the fort overseer from seizing all goods.
Also, the gap between iron and other ores is so big, that if iron and fluxstone aren't both present on the map for steel production, the best strategy is to just rush for adamantine, avoiding open spaces and caverns, which can be promptly done with the smart use of hatch covers to avoid cavern wildlife from flooding the fort. This completely trivializes all sorts of alternative material for gear.
ps: sorry for the wall of text