it makes a difference, because on how long gravity is pulling on the arrow. think of it like a triangle. the line that goes between you and the deer is longer than the line that goes between the deer and the base of the tree. this means that the line of sight is 32yds, but the actual distance is 27yds, because gravity is only pulling on the arrow for that distance. same when shooting up hill. this def. makes a difference.
I have a stand set that would make you retract that statement. Literally 5 yards from the base of my tree is a 60' drop. My compensated ranges are as much as 5-7 yards difference than the sight range. Depending on the yardage. I don't disagree in most normal tree stand sets an angle compensated isn't needed but they can be a valuable tool in the right situations. I find it strange that I set my pins for 22,28,33,38,43. Not a slow setup in the 260 fps range. I am a bit more picky than most and would consider myself a better than average shot but others don't need but 1 pin out to 30-40 yards. I guess all things are relative. Here is a Little chart I made up with my archers advantage program.
I just read on ans was about to post that I have your back. You are dead on but people seem to want to argue instead of realizing that we all have different ways we hunt. I can say the pucker factor on that 1 Stand set was way up there. Notice how a shot at 45 deg angle at 30 yards on the rangefinder should be shot for 20.9 yards.
It is a print out of a previous hunting setup I had off of archers advantage.www.archersadvantage.com