Glad that helped Rob.
Keep in mind that a component's or group's axes are aligned with the global axes upon creation of the component or group. If this axis orientation doesn't align with the geometry of the component, as would be the case with, say a rafter drawn in place or a window drawn on an angled wall, Change Axes can be used to modify the axis orientation as well as change the location of the component's or group's origin and thus the insertion point. Of course this is useful if you want tools to align to the axes when editing. If you are using interested in generating some sort of report indicating the dimensions of the components or groups in your model, alignment of the axes with the geometry is critical. Those reports typically report the dimensions of the bounding boxes.
If the component will be used in the future, setting the orientation and location of the axes can greatly improve your workflow, too.