I grew up with punch in/out from the left and right locator and it served me perfectly for over 26 years up until Cubase 8.5. I personally never felt the need to specify a recording area in/outside those locators!
Now I really have a hard time getting used to setting those up separately. To me it absolutely makes no sense! It’s extra clicks, another hidden menu and two more extra locators on the transport bar. Imo very confusing to deal with two sets of locators. And more over, I really fail to see any benefit?
Maybe I’m missing something? If so please elaborate?