On my ride in an F16B (with back seat), the ejection lever was a yellow pull handle right between your legs, a few inches from your nuts. You both go out no matter who pulls their own lever. Exploding bolts that shoot you high enough the chute deploys even if you're on the ground. (no thanks)
My pilot (the wing commander) told me rolling out for takeoff that if I pulled it for any reason other than he was dead or unconscious, he would court martial me and send me to Leavenworth (he wasn't kidding). He also told me to turn my mike off if I had to puke, because he didn't like listening to it. The rest of the flight was much friendlier.
Not only is there the excitement (and likely injuries) of ejection, there's the $18.8 mil for the aircraft (and extras if it augers in on someone's house). I'd have had to work for 537 years to pay off just the plane (on my capt's pay).
I wished the lever wasn't there. You start pulling hard Gs, you just want to hold on to something. But you don't want to even touch that thing.
And it's a little claustrophobic in there too, esp in a tight G suit, with oxygen mask, and after you're all strapped down tight. I didn't puke, and only greyed out nearly unconscious once.
