One thing to keep in mind with using the Stroke layer style is that it knocks out other layer styles that may be applied over the top of it on the same layer - ie if you add an outer glow you won't see the outer glow...you'll have to make a new layer for the outer glow. Putting the stroke on the inside creates even more problems if you try to turn down the opacity...it just kills everything and creates a transparent ring. That being said, I use it all the time and just put other styles on other layers