Not a cop, but I really like the idea. Seems to me that it would give the few bad cops a reason to shape up their act, and it would give good cops a bit of security in knowing that if somebody screamed foul they could prove they acted within their rights.
I've never seriously considered being a police officer, and I figure most people who want to become police officers are younger than university age. Looks like my degree is pretty worthless, though, so anything is an option at this point.
I've heard along the grapevine that in Canada (Eastern Canada) is a cop stumbles onto you with a reasonable amount of weed (think a joint) while you're not causing any trouble (ex. In a secluded location, not driving, not making a lot of noise, nowhere where you'd expect children to find you...