[davids2toys]

In actuality, it is 3 compartments. Nobody said that it "replaces" the light, you just can't have the light because there is no float. My guess is the light is not needed as much now because of the new (safer) setup. If this was my choice to make, I would go with the newer res and give up the light that you are used to, but that is just me.

As Gaz64 said:
"The dash warning light will never illuminate without the float.
The float has internal internal magnet which operates a sealed reed switch to activate the warning light.
Now if the clutch circuit develops a leak, can it run the reservoir down to the point of no fluid for the brakes? "

As Bob said:
"Now, you just keep track of whether the clutch release is working properly. If the fluid drops too low, that will be the first indication of a problem, either in the clutch or the brakes. "
what Bob said will basically take the place of your warning light

Your way/fix:
"I can easily take the float off and disconnect the light - done. Therefore I've no need for the new reservoir ordered and received from ERA"

Now you would have no early warning system if you fixed it your way. As Gaz said, if you have a leak in your clutch, because of you one line/one compartment reservoir, you will run it down to NO fluid for your brakes!
If you want to have a further conversation about it, feel free to PM me with your phone # and a good time to call.
Dave