I don't like it. For me, it's distracting. I want less stuff on the screen, not more. I understand why some people would want it, but I don't like it personally. If anything, put the strike zone box on the right side of the screen. A virtual strike zone on the plate wouldn't look nice, I think.
I think it was tbs or someone else, who would have a little pitch tracker graphic off to the side with all the pitch locations in each AB with numbers on the balls denoting which were the 1st, 2nd, etc., pitches. I loved that, and would love to see something like that become standard on all broadcasts. It was small enough to not be intrusive, and getting to see the approach pitchers were taking for each hitter was really interesting. I don't have a great memory so seeing a visual representation of the sequence of pitches was great.
I don't want some graphic overlaid onto the catcher however, that would hurt the viewing experience for me significantly.