DD is an only child and is 2.5 years old. She loves the pram. She tires quickly and gets clumsy and rather frustrated at herself for it, so the pram is a great option.
There have been times where she is happy to walk and if she holds our hands and doesn't bolt we are more than happy to let her walk.
She generally tells us what she needs or would like to do. We just go by her cues.
I have no plans of getting rid of my pram anytime soon. My mum said I was in mine on and off until I was 4.