Nathan Urban said:

" It’s probably worth considering, though, as an indicator of subsurface heat content."

If that is in regards to the sea-surface height, I think it would be much more likely an indicator of the Pacific Ocean sloshing imbalance. But then again due to thermal expansion, some fraction of the height change will certainly be due to the changing temperature of the ocean.

Other than that, it kind of makes sense, but all I am using is the tide gauges of Sydney harbor, which has had records kept for over 100 years, so can't really attribute it to sudden availability of satellite data.

The east-west sloshing of Pacific Ocean waters is routinely used to describe ENSO, yet curiously none of these indices seem to make use of the changes of surface height, which is the characteristic measure of sloshing.