Actually you may be fine with just registering variables but I do know that when I was trying to register a custom template it wouldn't work with the global hook and I read someone's post (I think it was Lynne's) suggesting to someone else to use the parse_templates.
As long as it works for you it doesn't make a difference lol.
EDIT: BTW can someone move my thread from the design froum to this one. Realized after I posted it that it should have been here.
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