Since it fires on every single combat rating change, IMO i would only use that event if I was making a frame that was constantly on the screen to show live rating amounts to track changes with buffs, procs etc, or if I wanted to track what the absolute highest value of a rating I could achieve with different procs and buffs.
I'm sure that there are other completely valid uses for the event, but that is what I would use it for.
If you just wanted to show what your current ratings are when you display a frame or whatever, I would just build the call into that particular display function.
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