Ted,
I use them on the VM120 chuck and like them a lot. Here are the pros and cons.
For clamping on a bowl tenon:
Pros: Can be used on multiple tenon sizes without changing jaws.
Cons: This isn't really a con, but somthing to keep in mind. When using the smaller diamters of the jaws, make sure the work's profile or curve near the tenon rises sharply enough to clear the jaws. If the curve is too broad (gentle, flat), the work will hit the outer diameters and you won't be able to clamp on the tenon.
For clamping into a recess:
Pros: They're good if the recess is matches the external range of the jaws.
Cons: You only have one option to clamp into a recess. If the recess is too small for the external range of the jaws, you may be looking for the number 2's.
Let me know if I've explained this well enough. If not, I'll try to get a picture. But that may take a while.
If you were thinking of buying the body only chuck and the step jaws, don't. Considering the price of these chucks, the extra cost of buying the chuck with the number two jaws is short money. This is especiall true if down the road you decide you need the #2 jaws for the reasons stated above.
When I wanted the step jaws, I went through this exact thought process. Although I had a Stronghold with #2 jaws, I deciced to buy the VM with the #2 jaw and the step jaws. The VM #2 jaws are still in the step jaw box and step jaws are on the chuck. But I have them if I need them.
Good luck,
Frank