i think that the expert answer is that protection is as good as its definitions and neither spybot nor malware bytes may be relevant on your network. I doubt that major organizations rely solely on products such as these aimed at the consumer, they build custom databases based on scripts that look for behavior which can compromise their data and circumvent their security.
Malware bytes will find what its looking for if a particular file meets specifications, and the same can be said of spybot or kav, norton; etc.
You can find use in the features though, one safeguard against one threat at the same time the question might arise are the threats still valid in the legitimate computing world?
I use spybot. I like the immunization feature. I like teatimer too because it shows me when registry settings change, at the same time I've noticed that the major version release on safer networking hasn't updated since at least a few months after I began using it two or three years back. So is it trying to tell you that registry settings for this version or build are in danger of alteration or another?
Its really an expert matter (which I'm not).
Some argue it is a commercial debate, for instance KAV and Spybot appear to have been having compatability wars for a number of years.
It really depends on how well the program performs for you on the network which you use at home or work and you'll want to investigate the programs you choose so reading the linked articles is a good step.
As for disabling teatimer I'm sure you can learn from it, on the other hand its hard to recognize a long sequence of characters without expert experience but at the least you can say you know this program made a registry value, with this value, in this location.