Absolutely, and I recommend it to everyone I talk to. It's the best tool we have to tailor our style, and really figure out how the system evaluates and utilizes talent, which are kind of two separate concepts, making player roles important for both recruiting/team building and game planning.
I usually recommend only changing a couple things off the bat, like zeroing durability and work ethic, and drastically reducing the non-position core areas (rebounding for guards, ballhandling for bigs, etc), and then fine tuning as you go. I also prefer to use broad roles like distributor / perimeter scorer / swing / interior defender, etc instead of trying to come up with a formula for every position. I started out thinking I would have a formula for every position in every set, and what a waste of time. For one, if you have multiple teams, you only have one formula applied at once across all of them anyway, so it's really a waste to even bother with. Now I just have some broad roles, and I plug those in to however I'm feeling at the time. It does still make it a little weird when I've got teams that are drastically different from each other, like my uptempo FB/P Fresno squad and my grinding triangle/man Lincoln team, and I do wish they would make it applicable on a team basis. But even broadly, it's still way better than just overall ratings, and your own adjusted roles are going to be much better than the default system settings as well, even accounting for the differences in sets.