I was on the fence similar to you, and had already added all my favorites to my local library. But in the end I decided it was too much work to be worth it. After all, if I’d already found the title and decided to favorite it, searching for it isn’t as important to me. When I search, I’m looking for new stuff I haven’t already found. Also, I decided I’d rather keep my library separate instead of all mixed together. But if it makes things easier for you, go for it!
PS: I love that Conductor shows the back cover, and even flips front to back to front again when selecting an album to play (if it has back cover art).