Using configurations vs separate parts - pros/cons?

We are setting up Toolbox for the first time and I am curious what the pros/cons for using the "configuration" or "separate part" setting when generating parts.  Most of our parts will be generated when I setup the initial database, populating the various nuts/bolts/washer custom properties to match our companies ERP system (Item#, Description, etc).   While doing some research on the forums, it sounds like some people have ditched Toolbox in favor of just using the Design Library.  Some of these comments were from 2-3 years ago, so I am hoping Toolbox is better now.

Any longtime Toolbox users have any tips?  Thanks.

SolidworksToolbox