Should I use "Productions"?

Traditionally, I rely on template folders I have for each of the videos I make for the same client. I copy the entire template folder and name the copy for each project. There are two problems with this: 1. I am constantly copying the common assets for each project which is taking space on my hard drive. 2. If I want to use clips from another project, I have to copy them into my new project folder before I import them which creates copies and takes up space on my hard drive. I do this based on bus theory and so I could share a project with someone else without having to worry about finding all the files across my hard drive. Would the production workflow be better for me or would it make things more complicated? I see everyone online saying it is better for "complex" productions but what about simple productions for a specific client that use many of the same assets and intros/outros etc? I am just about to use a new hard drive and I want to migrate to the production workflow right off the bat if it would be simpler. Also, will watchtower still work with the productions workflow?

These templates are organized like this:

Template Project Folder

1. Common Assets (Contains Media)
   • Music
   • Logos and Graphics
2. Premiere Project (Empty)
   • Proxies
   • Project File and Folders
3. Raw Footage (Empty)
   • 5D4
   • EOS R
   • GoPro
   • Ronin
   • Osmo
4. Raw Recorded Audio (Empty)
   • H4N
5. Pluraleyes (Empty)
   • Audio Replaced Clips
6. EXPORTS (Empty)

Thank you for your help,

John