Shopbots ER25 Collet in Autodesk F360's CAM tool library

So I'm learning AutoDesk Fusion 360's Tool Library and wanted to know if anyone bothers defining their collet tool holder and locknut. Is the purpose of defining tool holders for those ones that extrude further out of the spindle than a collet?

Here are the steps I'm following:

Fusion 360 >CAM >Manage >Tool Library >

I choose my Local Library > New Library (or cloud if you've turned it on in preferences).

I then select + New Holder and then enter the following 3 entries for Height, Upper Diameter and Lower Diameter:
1 - 5mm, 21mm, 26mm
2 - 4mm, 22mm, 22mm
3 - 26mm, 25.5mm, 19.09mm

The visual then looks like a ER 25 Collet.

Attachment 27786

So the only benefit of defining tool holding is for gouge-checking and collisions. Having your tool holding accurate in the software is crucial for 4 + 5 axis operations, but for 3 axis its easy enough to wing it. If your cutting very deep where the collet needs to go below the top of stock plane its good to know you wont have a collision. If you have the tool holder programed it's just adding another safeguard.

Without multi-axis or an ATC setup both tool length and tool holder can just be considered when you set your tool in the collet manually. If your tool length is not exact to what you've programed then the tool holding dedicated in the software doesn't matter at all.

My two cents :D
-Byron